The surplus assets, as shown in the report of a liquidator of a multi state cooperative society which is wound up-
(a) may, if the bye-laws of the multi state cooperative societies specify the purpose for which surplus shall be utilized, be utilized for the said purpose, and
(b) if the bye-laws aforesaid do not specify the purpose, be divided by the Central Registrar with the previous sanction of the Central Government, amongst the members of such multi state society in such manner as be prescribed. Here is elaborative notes on preparation of bye laws in multi state society. Provisions of Section 91 of the 2002 Act are word to word same identical to Section 82 of the 1984 Act. Where in a report of a liquidator of a multi state co-operative society which is wound up may, if the bye-laws of the multi state cooperative society for which surplus shall be utilized, be utilized by the Central Registrar for the said purpose and if the bye-laws aforesaid do not specify the purpose be divided by the Central Registrar with the previous sanction of the Central Government, amongst the members of such multi-State cooperative society in such manner as may be prescribed. The Central Registrar cannot act beyond the scope of the bye-laws of the multi state co-operative society and is bound to utilize the surplus assets received the report of liquidator for the specific purpose as provided or in bye-laws of such society. According to Rule 29 of the Multi state co-operative societies rules, the assets of the multi state cooperative society shall be applied in owing order of priority for the payment of liabilities: (a) Pro rata payment of all outside liabilities; (b) Pro rata repayment of loans and deposits of members; (c) Pro rata refund of share capital; (d) Pro rata payment of dividend on the shares at the rate not exceeding 6.25%. Awesome article on procedure for registration in multi state cooperative society.