Multi-State Cooperative Societies Act, 1984

82. Disposal of surplus assets.-

The surplus assets, as shown in the report of a liquidator of a multi-State cooperative society which is wound up;

a.      may, if the bye-laws of the multi-State cooperative 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.