State Act
50
Section 50. Disposal of 'Principal State Partnership Fund' and 'Subsidiary State Partnership Fund' on winding up of an apex or a central society.
THE KARNATAKA CO-OPERATIVE SOCIETIES ACT, 1959.
Act no. 11 of 19591959In forceKarnataka (State Act)
50. Disposal of 'Principal State Partnership Fund' and 'Subsidiary State Partnership Fund' on winding up of an apex or a central society.- (1) If an apex society which has established a ‘Principal State Partnership Fund’ is wound up or is dissolved, all moneys to the credit of, or payable to, that Fund shall be paid to the State Government. (2) If a central society which has established a ‘Subsidiary State Partnership Fund’ is wound up or is dissolved all moneys, to the credit of, or payable to, that Fund shall be paid and credited to the ‘Principal State Partnership Fund’ from which it received moneys under clause (b) of sub-section (2) of section 43.