Section 13 in The Orissa Co-operative Societies Rules, 1965
13. Change of liability.
(1)Every notice to be given by the society under Sub-Section (2) of Section 11 shall [unless otherwise provided in the Bye-Laws] [Inserted by Orissa Gazette Extraordinary No 500, dated 23.4.1997.] be sent by post under certificate of posting or by delivery in person to the address of each of its member and creditors as recorded in the books of the Society. A copy of such notice shall be exhibited in the notice board of the Society and a copy shall also be sent to the Registrar for exhibition in the notice-board in his office and thereupon notice of the resolution to change the form or extent of its liability shall be deemed to be sufficient and proper service on all its members and creditors.(2)For the purpose of determining the claims of a member under Clause (b) of Sub-Section (4) of Section 11, the value of a share of a member in a Society shall be ascertained in the manner laid down in Rules 24 and 25.(3)Any member or creditor desiring to exercise his option under Sub-Section (2) of Section 11 shall inform the Society accordingly in writing and when he does not propose to withdraw his entire shares or deposits, the member or creditor shall clearly indicate in writing extent of his withdrawal. The Society shall examine and draw up a scheme for orderly payment of all claims in an equitable manner including shares, the value of which shall be ascertained in accordance with the provision of Sub-rule (2). The scheme may also provide for settlement of claims by mutual agreement. [* * *] [Omitted vide Orissa Gazette Extraordinary No. 500, dated 23.4.1997.].(4)[* * *] [Omitted vide Orissa Gazette Extraordinary No. 500, dated 23.4.1997.] The Society shall make payment to the members and creditors as provided in Clause (b) of Sub-Section (4) of Section 11 and make a report to that effect to the Registrar along with the approval to amend the Bye-Laws of a Society in the manner provided in Rule 14 for registration of such amendment.
