Amendment status not verified — confirm the current text below against the official source.
(1) All sums calculated in accordance with rules to be due from Disposal of a co-operative society to a member, other than payments in respect of (re tosa the share or interest of such member to the society, shall, subject to the deceased, provisions of section 50, be paid— expelled, resigned or imnsean nabeer: (a) in the case of a deceased member, to the person to whom the share and interest are transferred or their value is paid and bar to in accordance with the provisions of section 70; certain claims. (b) in the case of a member who has been expelled or has resigned from a society, to him, and (c) in the case of a member who has become insane, to any person appointed to manage his properties under the 4 of 1912. Indian Lunacy Act, 1912. (2) All payments and transfers made by a co-operative society in accordance with the provisions of sections 70 to 73 and sub-section (1) of this section shall be valid and effectual against any demand made upon the society by any other person. CHAPTER VIII DIVISION, TRANSFER OF ASSETS AND LIABILITIES, AND AMALGAMATION, OF CO-OPERATIVE SOCIETIES