Section 55 in The Jammu and Kashmir Dissolution of Muslim Marriages Act, 1999 (1942 A.D.)
55. Duties of liquidator.
- On his/her appointment a liquidator shall,-(a)immediately give notice of his/her appointment:-(i)in the case of a liquidator not appointed by the Registrar, to the Registrar ; and(ii)to each claimant and creditor known to the liquidator;(b)immediately publish notice of his/her appointment in the Gazette and once a week for two consecutive weeks in a newspaper published or distributed in the district where the cooperative has its registered office and take reasonable steps to give notice of the liquidation in every jurisdiction where the cooperative carries on business;(c)place in the notice mentioned in clauses (a) and (b) a provision requiring any person :(i)indebted to the cooperative, to render an account and pay to the liquidator at the time and place specified any amount owing;(ii)possessing property of the cooperative, to deliver it to the liquidator at the time and place specified; and(iii)having a claim against the cooperative whether liquidated, un-liquidated, future or contingent, to present particulars of the claim in writing to the liquidator not later than sixty days after the first publication of the notice:(d)take into custody and control the property of the cooperative ;(e)open and maintain a trust account for the moneys of the cooperative;(f)keep accounts of the moneys of the cooperative received and paid out by him/her ;(g)maintain separate lists of the members, creditors and other persons having claims against the cooperative;(h)where at any time he/she determines that the cooperative is unable to pay or adequately provide for the discharge of its obligations, apply to the Registrar/general body as the case may, be for directions; and(i)deliver to the Registrar/general body, periodically as the Registrar/general body may require, financial statements of the cooperative in any form that the liquidator considers proper or that the Registrar/general body may require.
