section 46
Indemnity of apex and central societies
The Rajasthan Co-Operative Societies Act, 2001Corporate2001128 sections16 chapters
Chapter VII STATE AID TO CO-OPERATIVE SOCIETIES
Statutory text
- (1) If a co-operative society in which shares are purchased from the Principal State Partnership Fund is wound up or is dissolved, the 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 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 co-operative society in which shares are purchased from the Subsidiary State Partnership Fund is wound up or is dissolved, neither the Government nor the apex society shall have any claim against the central society which purchased such shares in respect of any loss arising from such purchase but the apex society shall be entitled to any moneys 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.
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