TMI BlogAmalgamation or transfer of assets and liabilities, or division of multi-State co‑operative societies.X X X X Extracts X X X X X X X X Extracts X X X X ..... 8209;operative society may, by a resolution passed by a majority of not less than two‑thirds of the members, present and voting at a general meeting of the society held for the purpose, ( a ) transfer its assets and liabilities in whole or in part to any other multi-State co‑operative society or co‑operative society; ( b ) divide itself into two or more multi‑ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ting to all the members and creditors, and, notwithstanding anything contained in the bye‑laws or contract to the contrary, any member or creditor shall, during the period of one month of the date of service of the notice upon him, have the option of withdrawing his shares, deposits or loans, as the case may be. (5) Any member or creditor who does not exercise his option within the period ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d under sub‑section (2), the Central Registrar, on being satisfied that the resolution has become effective under sub‑section (6) shall, unless for reasons to be recorded in writing he thinks fit to refuse so to do, register the new society or societies, as the case may be, and the bye‑laws thereof. (8) On the issue of an order under sub‑section (7), the provisions of sec ..... X X X X Extracts X X X X X X X X Extracts X X X X
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