Multi-State Co-operative Societies Act : Disposal of surplus assets. Indian Bare Acts :

Multi-State Co-operative Societies Act,2002

Act No : 39

Section : Disposal of surplus assets.

91. Disposal of surplus assets.-The surplus assets, as shown in the report of a liquidator of a multi-State 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 co-operative society in such manner as may be prescribed.