Amendment status not verified — confirm the current text below against the official source.
Amalgamation, transfer of assets and liabilities, conversion and division of societies.- (1) A co-operative society may, with the previous approval of the Registrar and by resolution passed by a three-fourth majority of the members present and voting at a special general meeting of the society- (a) transfer its assets and liabilities in whole or in part to any other society; (b) divide itself into two or more co-operative societies and form as such new societies; (c) convert itself into any other class of society and form as such a new class of society 1[:] 2[Provided that in case of an insured co-operative bank, no resolution under this sub-section shall be passed without the prior approval in writing of