Amendment status not verified — confirm the current text below against the official source.
Duties of liquidator. — On his appointment, a liquidator shall- (i) in the case of a liquidator not appointed by the Registrar, to the Registrar, and (ii) to each claimant and creditor known to the liquidator. (b) immediately publish notice of his appointment once a week for two consecutive weeks in a newspaper published or distributed in the place where the Cooperative Society has its registered office and take reasonable steps to give notice of the liquidation in every jurisdiction where the Cooperative Society carries on business; (c) Place in notice mentioned in clause (a) and (b) a provision requiring ay person, (i) indebted to the Cooperative Society, to render an account and pay to the liquidator at the time and place specified any owing, (ii) possessing property of the Cooperative Society to deliver it to the liquidator at the time and place specified, and (iii) having a claim against the Cooperative Society, whether liquidated, unliquidated, future or contingent, to present particulars of the claim in writing to the liquidator not later than two months after the first publication of the notice. (d) take into custody and control the property of the Cooperative Society; (e) open and maintain a trust account for the moneys of the Cooperative society; (f) keep accounts of the moneys of the Cooperative Society received and paid out by him; (g) maintain a separate list of members, creditors and other persons hiving claims against the Cooperative Society; (h) where at any time he determines that the Cooperative Society is unable to pay or adequately provide for the discharge of its obligations apply to the Registrar for directions; and (i) deliver to the Registrar, periodically as the Registrar may require, financial statements of the Cooperative Society is any form that the liquidator considers proper or that the Registrar may require.