Section 12A(1) in The Orissa Co-operative Societies Rules, 1965
(1)A society shall, in the interest of its members, creditors, depositors and its employees, acquire and dispose of property through -(a)a resolution of the Managing Committee passed by the majority members of the Committee in respect of movable property;(b)a resolution of the General Body passed by a majority of its members in respect of immovable property subject to approval of Registrar.
