Question

Under Section 35 of KCS Act, what does “first charge of a cooperative society” mean?

• A. The society has the right to seize a member's property without prior notice.
• B. The society can only recover dues after all other creditors have been paid.
• C. A member's property is automatically transferred to the society upon default.
• D. The society has the first right to recover dues from a member’s property

Answer 1

Answer:

D. The society has the first right to recover dues from a member’s property

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