If upon the dissolution of any society registered under this Act there shall
remain after the satisfaction of all its debts and liabilities any property
whatsoever, the same shall not be paid to or distributed among the
members of the said society or nay of them but shall be given to some
other society, whether registered under this Act or not, to be determined y
the votes of not less than two-thirds of the members present personally or
y proxy at the time of the dissolution or, in default thereof, by such court
as aforesaid:
Provided that this section shall not apply to any society which shall have been founded or established by the contributions of shareholders in the nature of a Joint Stock Company:
Provided further that nothing in this section shall be deemed to affect any provision contained in any instrument for the payment or distribution of the property of a society dissolved under section 13.
14-A. Surplus property may be given to Government: - Notwithstanding anything contained in section 14, it shall be lawful for the members of any society dissolved under section 13 to determine by the votes of not less than two-third of their total number that any property whatsoever remaining after the satisfaction of all its debts and liabilities shall be given to the State government to be utilised for any of the purposes specified in section 1-B.
Provided that this section shall not apply to any society which shall have been founded or established by the contributions of shareholders in the nature of a Joint Stock Company:
Provided further that nothing in this section shall be deemed to affect any provision contained in any instrument for the payment or distribution of the property of a society dissolved under section 13.
14-A. Surplus property may be given to Government: - Notwithstanding anything contained in section 14, it shall be lawful for the members of any society dissolved under section 13 to determine by the votes of not less than two-third of their total number that any property whatsoever remaining after the satisfaction of all its debts and liabilities shall be given to the State government to be utilised for any of the purposes specified in section 1-B.