Section 82 in Rajasthan Co-operative Societies Act, 1965
82. Disposal of surplus assets.
- After all the liabilities including the paid up share capital of the cancelled society have been met, the surplus assets shall not be divided amongst its members but they shall be devoted to any object or objects described in the bye-laws of the society and when no object is so described, to any object-of public utility determined by the general meeting of the society and approved by the Registrar or they may in consultation with the members either be assigned by the Registrar in whole or in part to any or all of the following-(a)an object of public utility;(b)a charitable purpose as defined in section 2 of the Charitable Endowments Act, 1890.or may be placed in deposit with the financing bank until such time as a new society with similar conditions is registered when, with the consent of the Registrar, such surplus may be credited to the reserve fund of such new society.
