Section 12 in Andhra Pradesh Co-Operative Societies Act, 1964
12. Transfer of assets and liabilities, division, amalgamation and conversion of a society.
(1)A society may, [x x x] [The words 'with the previous approval of the Registrar, and' omitted by Act No. 22 of 2001, dated 25.4.2001.] by a resolution decide to-(a)transfer its assets and liabilities in whole or in part to any other society which agrees to such transfer by a resolution ; or(b)divide itself into two or more societies ; or(c)convert itself into a society of a class different from one to which it belongs.(2)Any two or more societies may, [x x x] [The words 'with the previous approval of the Registrar, and' omitted by Act No. 22 of 2001, dated 25.4.2001.] by a resolution, decide to amalgamate themselves and form a new society.[Provided that where a society under sub-section (1) is a member of two or more societies under sub-section (2) are members of a federal society or in receipt of assistance from a financing bank, such society or societies shall obtain prior consent of the federal society or financing bank for any resolution under sub-section (1) or sub-section (2) as the case may be ;] [Added by Ibid.](3)[ Every resolution of a society under sub-section (1) or sub¬section (2) shall be passed at the general meeting by] [Substituted by Ibid.], [a majority of not less than two-thirds of members present and voting] [Substituted for 'a majority of not less than two-thirds of the total members' by Act No. 6 of 2005, w.e.f. 31-1-2005.], and such resolution shall contain all particulars of the transfer, division, amalgamation or conversion as the case may be.
