Section 68(2) in The Meghalaya Co-operative Societies Rules
(2)Any debt considered bad shall, if so approved by the Registrar, be written off by the annual meeting of the general assembly, in the following order against-(i)the bad debt fund or any fund created out of profits as provision for bad debts;(ii)any other fund created out of profits but not earmarked for any specific purpose;(iii)the reserve fund constituted under Rules 56 and 59.
