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[Cites 0, Cited by 0] [Section 32(2)] [Section 32] [Entire Act]

State of Jammu-Kashmir - Subsection

Section 32(2)(b) in Jammu and Kashmir Co-operative Societies Rules, 2001

(b)in the case of financing bank the surplus funds shall be assigned by the Registrar to the reserve fund or funds of any other financing banks to which the societies working in the area in which the financing bank which is being wound up carried in its operations, are affiliated. If there is no financing bank working in such area, the Registrar shall invest the amount in the State Co-operative Bank until a new financing bank, is formed in such area, in which case the funds shall be credited to the reserve fund of such financing bank.