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State of Rajasthan - Section

Section 14 in Rajasthan Societies Registration Act, 1958

14. Upon dissolution no member to receive surplus property

.— If upon the dissolution of any society registered under this Act there shall remain after the satisfaction of all its debts and liabilities any property whatsoever, the same shall not be paid to or distributed among the members of the said society or any of them, but shall be given to some other society, whether registered under this Act or not, to be determined by the votes of not less than two-thirds of the members present personally or by proxy at the time of the dissolution or, in default thereof, by such court as aforesaid :Provided that the section shall not apply to any society which shall have been founded or established by the contributions of share-holders in the nature of a joint-stock company :Provided further that nothing in this section shall be deemed to affect any provision contained in any instrument for the payment or distribution of the property of a society dissolved under Section 13.