(1) A Liability or Division of multi state cooperative society may with the prior consultation of the Central Registrar and by a resolution passed by a majority of no two-thirds of the members present and voting at a general many society held for the purpose (a) transfer its assets and liabilities in whole or in part to any other State Cooperative Society or cooperative society ; (b) divide self into two or more multi state cooperative society(c) divide itself into two or more multi state cooperative societies. (2) Any two or more multi state cooperative society may prior consultation of the Central Registrar and by a resolution passé majority of not less than two-thirds of the member’s present and general meeting of each such society, amalgamates themselves and r new multi state society. (3) The resolution of a multi state cooperative society under sub (1) or sub-section (2) shall contain all particulars of the transfer or division amalgamation, as the case may be Provided that in the case of a Cooperative bank, the Central shall not accord approval to any such resolution without the sanction in writing of the Reserve Bank. (4) When a taxation of multi state cooperative society has been passed a under sub-section (1) or sub-section (2), it shall give notice thereof in to all the members and creditors and, notwithstanding anything container the bye-laws or contract to the contrary, any member or creditor shall  the period of one month of the date of service of the notice upon him, have option of withdrawing his shares, deposits or loans, as the case may be (5) Any member or creditor who does not exercise his option within  period specified in sub-section (4) shall be deemed to have assented to proposals contained in the resolution. (6) (A) A resolution passed by a multi state Co-operative society this section shall not take effect until the assent thereto of all members and creditors has been obtained. (b) The cooperative society shall make arrangements meeting in full or otherwise satisfying all claims of the members are creditors who exercise the option within the period specified in section (4). (7) On receipt of an application for the registration of new society formed by division in accordance with the resolution passed under  (1) or of a new society formed by amalgamation in accordance with the resolution passed under sub-section (2), the Central Registrar, on be in satisfied that the resolution has become effective under sub-section (6) shall unless for reasons to be recorded in writing he thinks fit to refuse so to be register the new societies or society, as the case may be, and the bye-law, (8) On the issue of an order under sub-section (7), the provisions of shall, so far as may be, apply to the multi state cooperative society so divided or the multi state society so amalgamated. (9) Where a resolution passed by a multi state cooperative society are this section involves the transfer of any assets and liability of multi state cooperative society, notwithstanding anything contained in any other law for the being in force, be a sufficient conveyance to vest the assets and liabilities transferee without any further assurance.