section 20
Property how vested
The Andaman and Nicobar Islands Registration of Societies Regulation, 2026Corporate202632 sections12 chapters
Chapter VIII PROPERTY AND FUNDS OF THE SOCIETIES
Statutory text
- (1) All property, movable and immovable, belonging to a society, whether acquired before or after its registration, if not vested in the trustees, shall vest in the society, and any such property may be referred to as the property of such society in any legal proceedings: Provided that in case a housing society or a resident welfare association registered as a society for the operation, management and maintenance of facilities for the residents or civic amenities of any defined area, the property may vest in the members or their successor-in-interest who have contributed for acquisition of such property.
- (2) Where a society accepts a gift or donation of money or property of any other kind from any person or institution for a specific purpose, it shall use the money or such property gifted or donated or any part thereof only for the purpose for which it has been so gifted or donated and for no other purpose.
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