Section 37(10) in The Bihar Co-operative Societies Rules, 1959
(10)On the registration of the new societies, the assets and liabilities of the original society shall vest in the new societies in the manner specified in the preliminary resolution and confirmed under sub-Rule (6):[Provided that in special circumstances in the interest of co-operative movement in general and a co-operative society or a class of co-operative societies in particular, where the State Government deems it fit and expeditious division of a society or class of societies is necessary, the Government may by special order in writing exempt a society or a class of societies from the application of any or all of the provisions of sub-Rule (9) to (10) of Rule 37 and in such cases the preliminary resolution adopted under Rule 37(1) shall be deemed to be the resolution adequate to effect the division of the societies and for registration of the new society or societies in accordance with Rule 4 emerging from such division. The existing societies so divided shall continue to exist under the same registered number and date with necessary amendments as registered by the Registrar, Co-operative Societies as a result of division.In the event of such exemption having been ordered by the State Government in respect of any society it shall be incumbent upon the old registered society as well as upon the newly registered societies created by the division to receive notices of objections by any member, creditor or other person affected by the division up to one month from the date of registration of the divided new societies and to satisfy their claim in the proportion based upon the division of their assets and liabilities finalised by the Extraordinary General Meetings of the divided societies called on 15 days notice and as approved by the Registrar Co-operative Societies, whose decision in this regard shall be final.] [Added by G.S.R. 80 dated 26.12.1980.]
