Section 13(2) in The Tamil Nadu Co-Operative Societies Act, 1983
(2)(a)Two or more registered societies may, at meetings of their respective general bodies specially called for the purpose of which at least fifteen clear days' notice shall be given to their respective members resolve to amalgamate into one society. The said resolution is hereafter in this sub-section referred to as the preliminary resolution. The proposed bye-laws of the amalgamated society shall be annexed to the preliminary resolution.(b)(i)A copy of the preliminary resolution of each society shall be sent to all the members and creditors (hereof.(ii)Any member of any such society may, notwithstanding any bye-law to the contrary, within a period of one month from the date of receipt by him of the preliminary resolution, inti mate his intention not to become a member of the amalgamated society, by notice given to the society of which he is a member.(iii)Any creditor of any such society may, notwithstanding any agreement to the contrary, within a period of one month from the date of receipt by him of the preliminary resolution, intimate his intention to demand a return of the amount due to him, by notice given to the society of which he is a creditor.(c)After the expiry of two months from the date of despatch of the preliminary resolution to all the members and creditors of all the societies, a joint meeting of the members of such societies of which at least fifteen clear days' notice shall be given to them, shall be convened for considering the preliminary resolution and the proposed bye-laws. The quorum for the joint meeting shall be the sum total of the quorum specified in the bye-laws of all the societies or one-fourth of the total number of members of all the societies, whichever is less. If, at such meeting, the preliminary resolution and the proposed bye-laws are confirmed by a resolution passed by a majority of not less than two-thirds of the members present and voting, either without changes or with such changes as, in the opinion of the Registrar, are not material, he may, subject to the provisions of clause (f) and of section 9, but notwithstanding anything contained in section 8, and on receipt of a copy of such resolution certified in the manner prescribed, register the amalgamated society and the bye-laws thereof. On such registration, the registration of the original societies shall be deemed to have been cancelled.The opinion of the Registrar as to whether the changes made in the preliminary resolution are, or are not, material shall be final.(d)At the joint meeting referred to in clause (c), provision shall be made by another resolution for-(i)(A)the re-payment of the share or interest in the capital and other moneys due to all the members who have given notice under sub-clause (ii) of clause (b); and(B)the satisfaction of the claims of all the creditors who have given notice under sub-clause (iii) of clause (b):Provided that no member or creditor shall be entitled to such re-payment or satisfaction until the preliminary resolution is confirmed as provided in clause (c); and(ii)the constitution of an interim board consisting of the members specified in the resolution to conduct the affairs of the amalgamated society for a period of three months from the date of registration or for such further period or period not exceeding [six months] [Substituted for 'one year' by Tamil Nadu Act No. 4 of 2013, dated 23.2.2013, w.e.f. 31.1.2013.] in the aggregate from the date of registration as the Registrar may consider necessary; but the interim board constituted under this sub-clause shall cease to function as soon as a board has been constituted in accordance with the provisions of this Act, the Rules and the bye-laws.'(e)The person by whom a joint meeting referred to in clause (c) shall be convened and the procedure to be followed thereat shall be such as may be prescribed.(f)If the Registrar is satisfied that provision for the re-payment of the share or interest in the capital and other moneys due to all the members and for the satisfaction of the claims of all the creditors referred to in clause (d) has not been made, he may refuse to register the amalgamated society.(g)The registration of the amalgamated society shall be a sufficient conveyance to vest in it all the assets and liabilities of the original societies.
