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        Trust and Society

        Section 14 - Upon a dissolution no member to receive profit

        Societies Registration Act, 1860
        Chapter I

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        Dissolution asset restriction: residual property must not be distributed to members and must pass to another society. Upon dissolution of a registered society, any remaining property after satisfaction of debts must not be distributed to members but transferred to another society chosen by a resolution of members present personally or by proxy, or, failing that, determined by the court; societies founded as joint-stock companies are exempt from this prohibition.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                          Provisions expressly mentioned in the judgment/order text.

                              Dissolution asset restriction: residual property must not be distributed to members and must pass to another society.

                              Upon dissolution of a registered society, any remaining property after satisfaction of debts must not be distributed to members but transferred to another society chosen by a resolution of members present personally or by proxy, or, failing that, determined by the court; societies founded as joint-stock companies are exempt from this prohibition.


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