Section 191K in West Bengal Co-operative Societies Rules, 2011
191K. Appointment of receiver and his duties, powers, functions and remuneration.
(1) On an application by a bank or a society, as the case may b the Registrar may, by an order in writing, appoint a receiver and fix his remuneration. The receiver shall be entitled to take possession of the property and collect its produce and income, as the case may be, to retain, out of the money realized by him for his expenses of management and his remuneration, and to apply the balance in accordance with the provisions of sub-section (8) of section 69A of the Transfer of Property Act, 1882 (4 of 1882).(2)The receiver shall open an account with the nearest Co-operative bank or nationalized bank or post office.(3)All moneys received shall be deposited immediately into such account.(4)The receiver shall duly(a)account for all sums of money which he may receive in respect of the property, and(b)submit his accounts at the end of every month to the concerned bank or the society, as the case may be and at the same time forward a copy thereof to the Registrar.(5)A receiver may, for just and sufficient cause or on application made by the concerned bank or the society, as the case may be, be removed by the Registrar.(6)A vacancy in the office of the receiver may be filled up by the Registrar.
