Section 96 in Haryana Co-operative Societies Rules, 1989
96. Disposal of surplus assets.
- Section 131(2)(xxvii). - After discharging the liabilities of the co-operative society and repayment of share capital the liquidator may utilise the surplus assets, if any, for one or more of the following purposes:-(a)deposit the amount in a co-operative bank until a new co- operative society with similar area of operation is registered when it shall be credited to reserve fund of the new co-operative society;(b)any purpose connected with the development of co-operative movement, subject to the approval of the Registrar;(c)an object of public utility selected with due regard to the wishers of the members and approved by the Registrar.
