Section 26Part 13 — Termination or Dissolution of a Society
Proceedings necessary for termination or dissolution of a society
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A society may terminate or be dissolved —
upon the happening of any event declared by its rules to be the termination of the society;
by dissolution in manner prescribed by its rules;
by dissolution with the consent of seventy-five per cent of the members holding not less than sixty-six point six recurring per cent of the number of shares in the society, testified by their signatures to the instrument of dissolution;
by winding up, either voluntarily under the supervision of the Court, or by the Court, if the Court so orders on the petition of any member authorised by seventy-five per cent of the members present at a general meeting of the society specially called for the purpose to present the same on behalf of the society, or on the petition of any judgment creditor for not less than two hundred dollars, but not otherwise.
Every instrument of dissolution under paragraph (c) of subsection (1) shall state —
the liabilitie