Section 91 of the Multi-State Co-operative Societies Act, 2002 – Disposal of surplus assets

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Section 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.

Source: official text of The Multi-State Co-operative Societies Act, 2002 as published on India Code (PDF). All sections of the Multi-State Co-operative Societies Act, 2002.

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