Section 66 in Assam Co-Operative Societies Act, 2007
66. Management of deficit.
- (l) The deficit, if any, arising out of the operation of the business of a cooperative society during any given financial year, shall be fully settled by debiting a part or whole of the deficit to the deficit cover fund, if any, or as charge among its members:Provided that where such amounts are recovered the general body may resolve to credit a part or whole amount to the deficit cover fund or to account of each member in proportion to the deficit charge levied on him.(2)No member shall be permitted to withdraw from the membership of a cooperative society without paying his share towards clearing the deficit, if any.
