Section 15 in Karnataka Co-Operative Societies Act, 1959
15. Cancellation of registration certificates of co-operative societies in certain cases.
(1)Where the whole of the assets and liabilities of a co-operative society are transferred to another co-operative society in accordance with the provisions of section 14, [or section 14A] [Inserted by Act 39 of 1975 w.e.f. 23.9.1975.] the registration of the first mentioned co-operative society shall stand cancelled and that society shall be deemed to have been dissolved and shall cease to exist as a corporate body.(2)Where two or more co-operative societies are amalgamated into a new co-operative society in accordance with the provisions of section 14, [or section 14A] [Inserted by Act 39 of 1975 w.e.f. 23.9.1975.] the registration of each of the amalgamating societies shall stand cancelled on the registration of the new society and each such society shall be deemed to have been dissolved and shall cease to exist as a corporate body.(3)Where a co-operative society [is divided] [Substituted by Act 39 of 1975 w.e.f. 23.9.1975.] into two or more co-operative societies in accordance with the provisions of section 14, [or section 14A] [Inserted by Act 39 of 1975 w.e.f. 23.9.1975.] the registration of that society shall stand cancelled on the registration of the new societies, and that society shall be deemed to have been dissolved and shall cease to exist as a corporate body.
