The MULTI-STATE CO-OPERATIVE SOCIETIES ACT, 2002

WINDING UP OF MULTI-STATE CO-OPERATIVE SOCIETY

Section 92: Priority of contributions assessed by liquidator.

Notwithstanding anything contained in any law relating to insolvency, the contribution assessed by a liquidator shall rank next to debts due to the Central Government or a State Government or a local authority in accordance with the order of priority in insolvency proceedings.