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Section 17: Management of deficit.

The Telangana Mutually Aided Co-operative Societies Act, 1995.State Act of Telangana · Act 30 of 1995

(1) Where a Co-operative Society is left with a deficit in any given year, the board of directors shall place before the general body in the first following annual general meeting a detailed report on the causes of deficit and the manner in which the deficit is proposed to be met.

(2) The general body of the Co-operative Society shall decide to have the deficit covered by setting it off against the amounts available in the deficit cover fund and/or by debiting the deficit to the accounts of the members in proportion to the services they had availed or were expected to avail of the Co-operative Society during the year.

Where this provision sits

ActThe Telangana Mutually Aided Co-operative Societies Act, 1995.
Section17
Marginal noteManagement of deficit.
JurisdictionState of Telangana
StatusIn force as published by the source

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