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Loan society intending to dissolve itself shall give three months notice of their intention to loan fund board.
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41. In case the trustees or managers of any loan society shall be desirous of dissolving such society, or of bringing its operations to a close, and shall enter into any resolution for that purpose, the clerk of such society shall without delay transmit a notice in writing of such resolution to the secretary of the said loan fund board three calendar months at least before the period appointed for the dissolution of such society, or the close of their operations; and in case the trustees or managers of any loan society shall enter into any resolution or agreement or issue any notice with the view or for the purpose of effecting their dissolution or bringing their operations to a close, without notifying the same within ten days to the said loan fund board, or shall fix by such resolution, agreement, or notice any period sooner than three months from the time of such notification for the dissolution of such society or the close of their operations, then and in every such case all and every the capital stock, funds, and securities, and property whatsoever, of or belonging to such society or the trustees thereof shall vest in the secretary of the said loan fund board for the time being, and be disposed of, under the direction of the said board, in like manner as herein-after provided with respect to a society that shall be found to have violated their rules or the provisions of this Act.
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