Section 29 in The Multi-State Co-Operative Societies Rules, 2002
29. Application of assets of the multi-State co-operative society.
- The assets of the multi-State co-operative society shall be applied in order of priority as given below for payment of the liabilities:-(1)Pro rata payment of all outside liabilities.(2)Pro rata repayment of loans and deposits of members.(3)Pro rata refund of share capital.(4)Pro rata payment of dividend on the share at the rate not exceeding 6.25 per cent per annum for the period of liquidation.
