State Act

181

Section 181

Code of Comunidades of 1961

Act no. 2070 of 19611961In forceGoa (State Act)

Art. 181 – With the proceeds of the sale, the remission mentioned in the paragraph 4 of previous article, shall be effected and the remaining properties or revenues shall be given to the members for them to divide in the proportion to their rights. § 1. If the majority of the members prefer the sale of all the properties, this shall be done, and the funds that remained, after paying off all the debts, shall be distributed among them, according to each one’s right. § 2. If the comunidade does not have members, all the assets shall be sold and the proceeds that remain, after paying the debts, shall be deposited in the said Bank 62[Cooperative Bank or where such Bank is not in operation, in the Post Office Savings Bank as the case may be in favour of the Pensioners’ Bank.