Liability of Multi State Cooperative Society
(l) No multi state co-operative society with unlimited liability shall be registered after the commencement of Multi State Cooperative Societies Act:
Provided that where a multi state co-operative society with unlimited liability was functioning before the commencement of this Act, such a society shall exercise the option within a period of one year from such commencement either to continue to function as such or to convert itself into a multi state co-operative society with limited liability by following the procedure specified in sub-sections (2) to (4).
(2) Subject to the provisions of this Act and the rules, a multi state co-operative society may, by an amendment of its bye-laws, change the extent of its liability.
(3) When a multi state co-operative society has passed a resolution to change the extent of its liability, it shall give notice thereof in writing to all its members and creditors, and, notwithstanding anything contained in the bye-laws or contract t the contrary, any member or creditor shall, during the period of one month from the date of service of the notice upon him, have the option of withdrawing his shares
deposits or loans, as the case may be.
(4) Any member or creditor who does not exercise his option within the perio specified in sub-section (3) shall be deemed to have assented to the change.
(5) An amendment of a bye-law of a multi state co-operative society changin the extent of its liability shall not be registered or shall not take effect until either
(a) the assent thereto of all members and creditors has been obtained; or (b) all claims of members and creditors who exercise the option referred t in sub-section (3) within the period specified therein have been met i
full or otherwise satisfied.
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(l) No multi state co-operative society with unlimited liability shall be registered after the commencement of Multi State Cooperative Societies Act:
Provided that where a multi state co-operative society with unlimited liability was functioning before the commencement of this Act, such a society shall exercise the option within a period of one year from such commencement either to continue to function as such or to convert itself into a multi state co-operative society with limited liability by following the procedure specified in sub-sections (2) to (4).
(2) Subject to the provisions of this Act and the rules, a multi state co-operative society may, by an amendment of its bye-laws, change the extent of its liability.
(3) When a multi state co-operative society has passed a resolution to change the extent of its liability, it shall give notice thereof in writing to all its members and creditors, and, notwithstanding anything contained in the bye-laws or contract t the contrary, any member or creditor shall, during the period of one month from the date of service of the notice upon him, have the option of withdrawing his shares
deposits or loans, as the case may be.
(4) Any member or creditor who does not exercise his option within the perio specified in sub-section (3) shall be deemed to have assented to the change.
(5) An amendment of a bye-law of a multi state co-operative society changin the extent of its liability shall not be registered or shall not take effect until either
(a) the assent thereto of all members and creditors has been obtained; or (b) all claims of members and creditors who exercise the option referred t in sub-section (3) within the period specified therein have been met i
full or otherwise satisfied.
Twitter at Multi State Cooperative Society
Facebook at cooperative societies
chime at housing cooperative society
Olx at housing society registration
youtube at multi state society
Hotklix at multi state cooperative society registration
Oyax at housing cooperative societies
Whynotad at cooperative societies
Myspace at multi state society registration
.Google at multi state cooperative society
Groups.Google housing society registration
Reddit multi purpose cooperative society registration
Delicious at societies in delhi
Slashdot at multi state housing society registration
yahoo at multi state cooperative societies registration
blogspot at multi state cooperative society
uservoice at credit cooperative society
searchsight at multi state cooperative society registration
search.yahoo at society in india
lycos at multi state society
storify at cooperative society
articlesnatch at multi state cooperative society
basearticles at credit cooperative society
anoox at housing cooperative society in delhi
citeulike at credit cooperative societiey
wedigg at multi state society
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Folkd at multi state society registration
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Stumbleupon at housing society registration
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Slideshare at multi purpose cooperative society registration
Scoop at multi state housing society registration
Wordpress at multi state housing society
Dailymotion at multi state cooperative society registration
Myspace at multi state cooperative society
Reddit at registration of cooperative societies
Buzzfeed at multi state society in delhi
Friendfeed at housing society registration
Groupsdiigo at cooperative societies registration
Forums at multi state society registration
Forbes at credit cooperative society
Allmyfaves at multi purpose cooperative society registration
Linkedin at multi state cooperative society
Classifiedads registration of multi state cooperative society
