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[Cites 0, Cited by 0] [Section 6(2)] [Section 6] [Entire Act]

Bombay Presidency - Subsection

Section 6(2)(e) in Bombay Non-Trading Corporations Act, 1959

(e)in the case of a corporation limited by guarantee, state that each member undertakes to contribute to the assets of the corporation in the event of its being wound up while he is a member or within one year after he ceases to be member, for payment of the debts and liabilities of the corporation, or of such debts and liabilities of the corporation as may have been contracted before he ceases to be a member, as the case may be, and of the costs, charges and expenses of winding up, and for adjustment for the rights of the contributories among themselves such amount as may be required not exceeding a specified amount;