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of <h1>Section 17 of Multi-State Co-Op Act: Amalgamation, Asset Transfer, or Division Requires Two-Thirds Vote and Central Registrar Approval.</h1> Section 17 of the Multi-State Co-Operative Societies Act, 2002 outlines the procedures for the amalgamation, transfer of assets and liabilities, or division of multi-State co-operative societies. A resolution with a two-thirds majority vote at a general meeting is required for such actions. Members and creditors are notified and given a one-month period to withdraw their shares, deposits, or loans. The resolution becomes effective upon receiving assent from all members and creditors. The Central Registrar registers new societies formed through division or amalgamation. The resolution serves as a legal conveyance of assets and liabilities to the transferee.
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