Section 50 in Uttarakhand Self Reliant Co-Operatives Act, 2003
50. Dissolution by members.
(1)A co-operative may, by a special resolution, authorize its own dissolution;Provided that a copy of the notice of the general meeting shall be sent by registered post with an invitation to attend, to the Registrar, to all to whom the co-operative owes money, to any secondary co-operative to which the cooperative is affiliated, and to any co-operative/s with which a partnership contract has been entered into.(2)Invitees under the proviso of sub- section (1) shall have the right to make a presentation to the general body, if they so wish to, on the issue of the proposed dissolution.(3)Within fifteen days of such authorization for dissolution, the co-operative shall send to the Registrar a copy by registered post of the authorization to dissolve the co-operative.(4)The authorization approved in pursuance of sub- section (1) is required to set out:(a)the assets and liabilities of the co-operative;(b)the claims of creditors;(c)the number of members;(d)the nature and extent of the members' interest in the co-operative;(e)the name and address of the liquidator appointed by the co-operative.(5)When the Registrar receives the special resolution passed in pursuance of subsection( 1):(a)where the Registrar is satisfied that the co-operative has no assets or liabilities, the Registrar may dissolve the co-operative, strike off its name from the register of co-operatives and issue a certificate of dissolution; or(b)the Registrar shall, within thirty days of such approval, cause at the expense of the co-operative a notice of the special resolution to be published once a week for two consecutive weeks in a newspaper published or distributed in the district where the registered office of the co-operative is located.(6)In the case of dissolution, the Registrar may require, till the certificate of dissolution is issued by him/her, from the liquidator appointed by the cooperative 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 the Registrar may require.
