Act Number: 39

Act Name: The Multi-State Co-operative Societies Act, 2002

Year: 2002

Enactment Date: 2002-07-03

Long Title: 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.

Ministry: Ministry of Cooperation

Department:

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.
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