LawgistThe Multi-State Co-operative Societies Act
91Disposal 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.
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WINDING UP OF MULTI-STATE CO-OPERATIVE SOCIETY
- 86 Winding up of multi-State co-operative societies
- 87 Winding up of co-operative bank at the direction of Reserve Bank
- 88 Reimbursement to the Deposit Insurance Corporation by liquidator
- 89 Liquidator
- 90 Powers of liquidator
- 91 Disposal of surplus assets
- 92 Priority of contributions assessed by liquidator
- 93 Power of Central Registrar to cancel registration of a multi-State co-operative society
