Liquidator duties: notify appointment, call claims, realise assets, determine member contributions and report during winding-up.

Procedure for winding up a multi-state cooperative society prescribes that upon appointment the Central Registrar notify the liquidator's appointment and the liquidator publish a claims notice; book-recorded liabilities are deemed submitted. The liquidator must investigate claims, decide priorities, recover assets, institute suits, delegate collections, determine member contributions and enforce subsidiary orders, deposit funds in approved banks, and have remuneration fixed by the Central Registrar payable in priority as a liquidation cost. The liquidator must maintain books for audit, submit quarterly reports, call meetings, present a final report and hand over records; undischarged liabilities may be deposited in a cooperative bank and records may be destroyed after three years following registration cancellation.

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