Dissolutlon

Dissolutlon

Dissolution: The association shall be dissolved, if at General Body Meeting, specially convened for the purpose, a resolution to that effect is passed by a 3/4th majority of not less than four-fifths of its members present, who are entitled to vote.

Residual property: Upon dissolution of the association and, after payment of liabilities and debts, if there remains any property whatsoever, the same shall not be distributed among the members, but given or transferred to another body having objectives similar to those of the association, and so determined by voting on a resolution supported by three-fifths of the members of the association or in default thereof, by an appropriate court of law.