section 28
Member not to receive any share upon dissolution
The Mizoram Societies Registration Act, 2005Civil200531 sections
Statutory text
If after the disposal and settlement of the property of a society and its claims and liabilities, there are any surplus assets, such assets shall not be paid to or distributed amongst the members of the society or any of them but shall be given to some ther society to be determined-
- (1) in the case of a dissolution under section 25, by the votes of three-fourths of the members, or in default thereof, by the Registrar with the approval of the State Government; and
- (2) in the case of a dissolution under section 26, by the court.
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