Section 65(20) in The Bihar Co-operative Societies Rules, 1959
(20)(a)If after the recovery of all sums due to the society and realisation or the contribution and the cost of liquidation from the members, past members and heirs, nominees or legal representatives of deceased members and if after meeting the liabilities of the society there is any surplus left the liquidator shall call a meeting of the members. At such meeting the liquidator shall make a statement of the action taken by him in the liquidation proceedings. He shall also submit to the Registrar a final report which shall, if there is any surplus left after payment of all liabilities of societies also contain proposal for the disposal thereof. The Registrar shall pass final orders for the disposal of the surplus and after the same has been disposed of the liquidator shall submit a further report to the Registrar.(b)The cost of liquidation shall be the first charge on the assets of a liquidated society. The arrear remuneration of employees for services rendered shall rank next in the order and thereafter Government demands and audit fees; the dues of the other creditors shall rank next and follow the order that may be laid down by the Registrar.
