The Multi-State Co-operative Societies Act, 2002
Section 91. Disposal of surplus assets.
The surplus assets, as shown in the report of a liquidator of a multiState co-operative society which is wound up,--
(a) may, if the bye-laws of the multi-State co-operative society specify the purpose for which surplus shall be utilised, be utilised by the Central Registrar for the said purpose, and
(b) if the bye-laws aforesaid do not specify the purpose, be divided by the Central Registrar with the previous sanction of the Central Government, amongst the members of such multi-State cooperative society in such manner as may be prescribed.
Source: IndiaCode Portal, Legislative Department, Ministry of Law and Justice, Government of India. Open on India Code Check against the official text before relying on it.
Cases citing this section
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