Section 38(7) in The Bihar Co-operative Societies Rules, 1959
(7)At the joint meeting referred to in sub-Rule (5), provision shall be made by another resolution for-(i)the payment of the share capital of all the members who have given notice under sub-Rule (3); and(ii)the satisfaction of the claims of all the creditors who have given notice under sub-Rule (4):Provided that no member or creditor shall be entitled to such payment on satisfaction of the claim until the preliminary resolution is confirmed as provided in sub-Rule (5).
