Section 100 in Assam Co-Operative Societies Act, 2007
100. Final accounts.
(1)A liquidator shall pay the costs of liquidation out of the property of the cooperative society and shall pay or make adequate provision for all claims against the cooperative society.(2)Subject to the provisions of Section 60 after paying or making adequate provision for all claims against the cooperative society, the liquidator shall apply to the Registrar for approval of his final accounts and for permission to distribute in cash or in kind the remaining property of the cooperative society in accordance with the bye-laws.(3)Where the Registrar approves the final accounts rendered by a liquidator under sub-section (2), he shall -(a)issue direction with respect to the custody or disposal of the documents and records of the cooperative society; and(b)discharge the liquidator.(4)Where the Registrar discharges a liquidator under sub-section (3) the Registrar shall dissolve the cooperative society, issue a certificate of dissolution and delete its name from the Register of Co-operative Societies.(5)The cooperative society ceases to exist on the date shown in the certificate of dissolution, which shall not be later than eight years after the appointment of the liquidator.[Provided that for reasons beyond the control of the liquidator, more time is required for completion of the liquidation proceeding, the Registrar, for reasons to be recorded in writing with adequate justification, may grant an extension of the time shown in the certificate of dissolution which shall not exceed one year beyond the period of eight years from the date of appointment of the liquidator:Provided further that if the dissolution could not be effected within the extended period of one year for reasons beyond the control of the liquidator and further extension of time is necessary under compulsive circumstances, the matter shall be referred by the Registrar to the Government in the Administrative Department, for further extension of time, which shall not exceed one year at a time or for arriving at a decision to effectuate the dissolution in a time bound manner, as may be deemed fit and proper.] [Inserted by Assam Act No. 4 of 2019, dated 7.3.2019.]
