section 5
Property of society in whom vested
The Rajasthan Societies Registration Act, 1958Civil195821 sections
Statutory text
- (1) The property, movable and immovable, belonging to or held or acquired by a society registered under this Act, if not vested in trustees in trust for such society, shall be deemed to be so vested for the tome being in the governing body of such society, and in all proceedings, civil and criminal, may be described as the property of the governing body of such society.
- (2) Where any such property is vested or is to become vested in trustees in trust for any society registered under this Act and any new trustees have been appointed under and in accordance with section 5-A, the property shall, notwithstanding anything contained in any instrument or in the rules and regulations of the society, become vested without any conveyance or other assurance, in such new trustees and the continuing old trustees jointly or if, there are no old continuing trustees, in such new trustees wholly upon the same trusts, and with and subject to the same powers and provisions, as it was vested in the old trustees. 5-A. Appointment of new trustees: - (1) When it becomes necessary to appoint a new trustee or trustees in the place of or in addition to any trustee or trustees in whom any property belonging to or held or acquired by a society registered under this Act is vested in trust for such society, such society, such new trustee or trustees may be appointed-
- (a) in the manner prescribed by any instrument by which such property is vested or by which the trust on which it is held has been declared, or (b)in case such manner has not been so prescribed or such new trustee cannot, for any reason e appointed in such manner,
- (i) in such manner as may be agreed upon by the members of such society, or
- (ii) by a majority of not less than two-thirds of such members actually present at the meeting at which the appointment is made.
- (a) in the manner prescribed by any instrument by which such property is vested or by which the trust on which it is held has been declared, or (b)in case such manner has not been so prescribed or such new trustee cannot, for any reason e appointed in such manner,
- (2) Every appointment of a new trustee made under sub-section (1) shall be made to appear by a memorandum under the hand of the chairman for the time being of the meeting at which such appointment is made, attested by two or more credible witnesses in the presence of such meeting, and such memorandum shall be deemed to be a document compulsorily registerable under the Indian Registration Act, 1908 (Central Act XVI of 1908)
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