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Union of India - Section
Section 14 in The Societies Registration Act, 1860
14. Upon a dissolution no member to receive profit.
- If upon the dissolution of any society registered under this Act there shall remain after the satisfaction of all its debts and liabilities any property whatsoever, the same shall not be paid to or distributed among the members of the said society or any of them, but shall be given to some other society, to be determined by the votes of not less than three-fifths of the members present personally or by proxy at the time of the dissolution, or, in default thereof, by such Court as aforesaid:Clause not to apply to Joint-stock Companies. Provided, however, that this clause shall not apply to any society which shall have been founded or established by the contributions of shareholders in the nature of a Joint-stock Company.| Uttar Pradesh.- In its application to the State of Uttar Pradesh, after section 14, insert following section, namely: -"14A. Disposal of property of a dissolved society.- Notwithstanding anything contained in section 14, it shall be lawful for the members of any society dissolved under section 13 to determine by a majority of the votes of the members present whatsoever remaining after the satisfaction of all the debts and liabilities shall be given to the Government to be utilised for any of the purposes referred to in section 1." [U.P. Act 52 of 1975, S. 9 (10.10.1975)]. |