Section 92
Priority of contributions assessed by liquidator.
The Multi-State Co-operative Societies Act, 2002
About this Act
An Act to consolidate and amend the law relating to co-operative societies, with objects not confined to one State and serving the interests of members in more than one State, to facilitate the voluntary formation and democratic functioning of co-operative s as peoples institutions based on self-help and mutual aid and to enable them to promote their economic and social betterment and to provide functional autonomy and for matters connected therewith or incidental thereto.
Notwithstanding anything contained in any
law relating to insolvency, the contribution assessed by a liquidator shall rank next to debts due to the
Central Government or a State Government or a local authority in accordance with the order of priority in
insolvency proceedings.