Section 13(4) in Goa Co-operative Societies Rules, 2003
(4)Any member or creditor desiring to exercise his option under sub-section (2) of section 14 of the Act shall inform the society accordingly in writing, and when he does not propose to withdraw his entire share or deposits, the member or creditor shall clearly indicate in writing the extent of his withdrawal. The society shall examine and draw up a Scheme for orderly payment of all claims in an equitable manner including shares, the value of which shall be ascertained in accordance with the provisions of sub-rule (3). The Scheme may also provide for settlement of claims by mutual agreement. Where the Registrar does not approve the Scheme on the ground of impracticability or undesirability, the resolution passed by the society under sub-rule (1) shall be ineffective, and the form and extent of liability of a society shall remain unaltered in accordance with resolution passed as aforesaid.
