Section 66 in The Punjab Co-operative Societies Rules, 1963
66. Liability due to claimants whose whereabouts not known. [Sections 59 (1) and 85 (2) (xxvi)]
- If any liability cannot be discharged by the liquidator owing to the whereabouts of the claimant not being known or for any other cause, the amount covered by such undischarged liability may be deposited in the Central Co-operative Bank having jurisdiction over the area in which the co-operative society was functioning and shall remain at the disposal of the claimants for a period of three years, after which the undrawn amount, if any, may be transferred to the State Co-operative Union for credit to the Co- operative Education Fund.
