Section 74 in Punjab Self-Supporting Co-operative Societies Act, 2006
74. Disposal of surplus assets of liquidated self-supporting co-operative society.
- When all the liabilities including the paid-up share capital of a liquidated self-supporting co-operative society have been met, the surplus assets shall not be divided among its members, but the same shall be applied to the objects described in the bye-laws. In case, no object is described to which the surplus assets can be applied, then the same can be applied to any object of public utility related to the promotion and development of the co-operative movement.
