1* * * Whenever the dissolution of the said Association shall be ordered either by the 2[Central Government], or by a vote of the said Association, the Directors of the said Association shall cause all the property of the said Association to be converted into money, and shall divide whatever surplus may remain after satisfying the debts of the said Association among the proprietors in proportion to the shares which the proprietors have in the Capital Stock of the said Association; and after such distribution the said Association shall forthwith be dissolved.
Chapter — Sections
Section 39
Division of property on dissolution
Printed from Law on Tips • The Bengal Bonded Warehouse Association Act, 1838