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Section 57

The Manipur Co-Operative Societies Act, 1976State Act of Manipur · Act 14 of 1976

(1) If a society in which shares are purchased from the Principal State Partnership Fund is wound up, or is dissolved. the State Government shall not have any claim against the Apex Society which purchased the shares in respect of any loss arising from such purchase ; but the State Government shall be entitled to any moneys received by the Apex society in liquidation proceedings or on dissolution, as the case may be.

(2) If a society in which shares are purchased from the Subsidiary State Partnership Fund is wound up or dissolved, neither the State Government nor the Apex Society shall have any claim against the Central Society Which purchased the shares, in respect of any loss arising from such purchase; but the Apex society shall be entitled to any money received by the Central society in liquidation proceedings or on dissolution, as the case may be, and such moneys shall be credited to the Principal State Partnership Fund.

Where this provision sits

ActThe Manipur Co-Operative Societies Act, 1976
Section57
JurisdictionState of Manipur
StatusIn force as published by the source

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