14. Upon a dissolution no member to receive profit
If upon the dissolution of any society registered under this Act there shall remain,after the satisfaction of all its debts and liabilities, any property
whatsoever, the same shall not be paid to or distributed among the members of the said societyor any of them, but shall be given to some other
society, to be determined by the votes of not less than three-fifths of the members present personally or by proxy at the time of the dissolution,
or in default thereof, by such court as aforesaid:
Clause not to apply to Joint-stock Companies : Provided, however, that thisclause shall not apply to any society which has been founded or
established by the contributions of share-holders in the nature of a Joint-stock Company. |