Section 39 in Telangana Mutually Aided Co-Operative Societies Act, 1995
39. Dissolution by Member.
(1)A Co-operative Society may, by a special resolution, Dissolution by authorize its own dissolution: members.Provided that a notice of the general meeting shall also be sent with an invitation to attend, to the Registrar, to any federations of which the Co-operative Society is affiliated, to creditors and to any organisation with which a partner-ship contract has been entered into.(2)Invites under the proviso of sub-section (1) shall have the right to make a representation to the general body if they so wish to, giving reasons why dissolution is not called for.(3)Within fifteen days of such authorization for dissolution, the Co-operative Society shall send to the Registrar a copy of the authorisation to dissolve the Co-operative Society by registered post.(4)The authorisation approved in pursuance of sub-section (1) is required to set out the following, namely:-(a)the assets and liabilities of the Co-operative Society;(b)the claim of creditors, and collaborators and protected shareholders;(c)the number of members;(d)the nature and extent of the members interest in the Co-operative Society; and(e)the name of the liquidator, if appointed by the general body, or a request to the Registrar to appoint the liquidator or a request to the Registrar to issue a certificate of dissolution where there are no assets or liabilities.(5)Where the Registrar receives the special resolution passed in pursuance of sub-section (1), he shall cause at the expense of the Co-operative Society a notice of the special resolution to be published once a week for two weeks in a newspaper published or distributed in the district where the registered office of the Co-operative Society is located.(6)The Registrar may require from the Co-operative Society, the liquidator appointed by the Co-operative Society or any other person who is required to furnish information, a periodical return showing:-(a)the progress of dissolution;(b)the distribution of any undistributed surplus or reserve; and(c)any other relevant information that if any require.
