Section 15(2) in Sikkim Co-Operative Societies Act, 1955
(2)(i)Two or, more registered societies may, at a meeting of their respective General Assemblies specially convened for the purpose, by giving at least fifteen clear days notice to the respective members of the societies, resolve to amalgamate into one society by adopting common bye-laws.(ii)A copy of such resolution of each society shall be circulated forth with among members and creditors thereof.(iii)Notwithstanding any bye-laws to the contrary, any member of any such societies, and notwithstanding any agreement to the contrary, any creditor of any such societies, may within, a period of thirty days from the receipt of the aforesaid resolution, intimate his intention not to become a member of the new society, in the case of member and to demand a return of the amount due to him, in the case of a, creditor.(iv)After' the expiry of ninety days from the date of the aforesaid resolution a meeting of the members' of such societies shall be convened to decide finally the resolution.(v)At least fifteen clear days' notice shall be given to all the members of the Societies. If at such meeting the aforesaid resolution is confirmed by a majority of three-fourths of the members of each society present and the common -bye-laws are accepted with or without any alterations, the Registrar shall be moved by an application under section10 for registration and be shall register the new society under section 11 if he approves.(vi)The Registrar shall not-register the new society if the a application for registration is not accompanied by a certificate of repayment of share capital to members and a certificate of satisfaction of claims of creditors referred to in clause (iii).(vii)From the date on which the new society is registered the registration of the old societies shall be deemed to have been cancelled.(viii)The registration of the new society shall be a sufficient conveyance to vest in it all the assets and the liabilities of the original societies.
