Section 142 in Tamil Nadu Co-operative Societies Rules, 1988
142. Procedure in respect of property deposited or entrusted.
(1)(a)Any property required by the society to be deposited with it or entrusted to its custody under sub-section (3) of section 40 shall, subject to the provisions of these rules, be delivered to an officer of the society authorised by the board in this behalf after preparing an inventory of such property and such inventory shall be signed by the member, past member, or the nominee, heir or legal representative of the deceased member and such officer of the society.(b)The society may, at the instance of the member, past member or the nominee, heir or legal representative of the deceased member or any person claiming an interest in such property, leave the property in-charge of the member, past member, or the nominee, heir or legal representative of the deceased member or person, as the case may be, if he enters into a bond in the form specified by the Registrar with one or two sureties for the production of the property whenever called for.(2)Where such property consists of crops or ungathered produce of the land, the society may either require the member or a past member or the nominee, heir or legal representative of the deceased member to' reap and gather the produce in due season and deliver the produce at his own expense for storage in the godown of the society or such other place as it may direct or arrange for the reaping, gathering and storage of the produce at the expense of the society. Tire actual expenditure incurred by the society in connection with such reaping, gathering and storage shall be defrayed by the member, past member, or the nominee, heir or legal representative of the deceased member, upon dais redeeming the property or from the proceeds of the sale in the event of its being sold.(3)Where such property consists of cattle or livestock, the society shall not work or make use of them in any manner. The expenses incurred by the society in feeding the cattle or livestock shall be defrayed by the member or past member or the nominee, heir or legal representative of the deceased member, upon his redeeming the property or from the proceeds of the sale in the event of its being sold.(4)(a)Where such property consists of machinery engaged in actual manufacture or is a workshop, godown or place of business actually in use by the member, past member or the nominee, heir or legal representative of the deceased member, the society shall, if the member, past member or the nominee, heir or legal representative of the deceased member, as the case may be, so desires, leave the property with him on the production of security to the satisfaction of the society either in the shape of unencumbered immovable property or personal surety.(b)Where the member, past member or the nominee, heir or legal representative of the deceased member does not furnish security to the satisfaction of the society, the society shall take over the machinery, workshop, godown or place of business and maintain it until such lime the member, past member or the nominee, heir or legal representative of the deceased member furnishes adequate security or discharges the debt or outstanding demand in respect of which there is a charge on the properly. The actual expenses incidental to the management and maintenance of the machinery, workshop, godown or place of business shall be defrayed by the member, past member, or the nominee, heir or legal representative of the deceased member upon his redeeming the property or from the proceeds of the sale in the event Of its being sold.
