Section 50 in Jammu and Kashmir Co-Operative Societies Act, 1989
50. Indemnity of apex and central societies.
(1)If a co-operative society in which shares are purchased from the "Principal Government Partnership Fund" is wound up, or is dissolved, the Government shall not have any claim against the apex society which purchased the shares in respect of any loss arising from such purchase; but the Government shall be entitled to any money received by the apex society in liquidation proceedings or on dissolution, as the case may be.(2)If co-operative society in which shares are purchased from the "Subsidiary Government Partnership Fund" is wound up or is dissolved, neither the Government nor the apex society shall have any claim against the central society which purchased the shares in respect of any loss arising from such purchases; but the apex society shall be entitled to any money received by the central society in liquidation proceedings or on dissolution, as the case maybe, and such money shall be credited to the "Principal Government Partnership Fund".
