(1) Subject. to the pl.ovisions of sub-section (2 ) , the liability of Lialbility , 2 ps.st i~ir;rnbcr (:r of t l l r estate of. ;I cleceascr! rnemlii?~ of a co-ol?erative Of D " ' ~ ~nt.?rnbcr soc:ic>ty for ilic: deht.; of the society a s they existed,---- alld 5 @ THE G A Z E T T ~ OF INDIA EXTRAORDINARY [PART 1i- ~ - - --- .- -. - - . .. . - -- - Final authority in a co-operative society.
Annual gcncral meeting.
Special general meeting.
(b) in the case of a deceascd member, on the date of his death, shall continue for a period of two years from such date:
Provided that the liability of the Government or of a credit agency which has taken shares in a co-operative society shall cease on the date on which the Government or the credit agency ceases to be a member.
(2) Where a co-operative society is ordered to be wound up under section 57, the liability of a past member who ceased to be a member or 03 the estate of a deceased member who died within two years immediately preceding the date of the order of winding up, shall continue until the entire liquidation proceedings are completed, but such hability shall extend only to the debts of the society as they existed on the date of cessation of membership or death, as the case may be.
CHAPTER IV