Section 43B in The M.P. Co-Operative Societies Act, 1960
43B. [ Liability for deficit. [Inserted by M.P. Act No. 12 of 1994 [w.e.f. 8-5-1994].]
(1)Where a society has an operational deficit in any year, the committee shall place before the general body the reasons therefor.(2)The general body shall examine the reasons and where the deficit has arisen in the normal course of business of the society, the general body based on its examination may resolve to make good the operational deficit wholly or partially from members and or its reserves.]
