Section 20(2)(b) in Karnataka Co-Operative Societies Act, 1959

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State of Karnataka - Subsection

Section 20(2)(b) in Karnataka Co-Operative Societies Act, 1959

(b)a co-operative society,-

(i)the committee of which stands superseded or to which a special officer is appointed under [section 31] [Substituted by Act 25 of 1998 w.e.f. 15.8.1998.] of the Act;

(ii)which is [ordered to be wound up] [Substituted by Act 25 of 1998 w.e.f. 15.8.1998.] under section 72;

(iii)which has not commenced working or has ceased to work;

(iv)[ whose principal object is to advance loans and whose percentage of recovery is less than seventy five percent of the total demand for the co-operative year immediately preceding the co-operative year during which the meeting is held and which has failed to pass on to the financing bank or the credit agency, as the case may be, to which it is indebted,- [Substituted by Act 25 of 1998 w.e.f. 15.8.1998.]

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State of Karnataka - Subsection

Section 20(2)(b) in Karnataka Co-Operative Societies Act, 1959