MoU

MEMORANDUM OF ASSOCIATION AND RULES & REGULATIONS OF KARNATAKA TOURISM SOCIETY

MEMORANDUM OF ASSOCIATION

The name of the Society is Karnataka Tourism Society (hereinafter called the “Society”). “KTS”

The Registered Office of the Society shall be at C/o. Skyway International Travels , 2nd Floor, Pananna Street, No.8. St. Marks Road, Banglaore-560001 or at such other place as may be decided by the General Body of the Society.

The Area of operation of the Society shall be in the State of Karnataka.

The Society shall be a non‐profit making charitable society, with aims and objects specified in this Memorandum of Association

Society not for profit:

The income and the property of the Society shall be applied solely towards the promotion of the objects of the Society and no part thereof shall be paid or transferred directly or indirectly by way of dividend, bonus, interest or otherwise by way of profit to persons who, at any time are, or have been members of the Society or to any one or more of them or to any person claiming through any one or more of them, provided that nothing herein contained shall prevent the payment in good faith of remuneration to any employee of the Society in return for services rendered to the Society or payment of interest at a reasonable rate on money borrowed, or expenses incurred by a member or anyone so empowered in connection with the work of the Society. No member of the Society shall have any personal claim on any movable or immovable properties of the Society or make any profit, whatsoever, by virtue of his membership.

Governing Body.

The management and control of the Society is entrusted to the Managing Committee to be elect- ed by the general body of members and the management shall be carried on in accordance with the Rules and Regulations. The names, addresses and designations of the first members of the Managing Committee are subscribed hereunder.

Karnataka Tourism Society Found Member list

Definitions:

RULES & REGULATIONS

(a) “Society” means the “Karnataka Tourism Society”.

(b) “Member” means a person who is for the time being duly admitted as a member of the Soci- ety according to its Rules & Regulations or a duly appointed nominee or representative of such member and includes active member, affiliate member and honorary member who has been admitted as a member of the Society according to its rules and regulations and whose name is entered in the Register of members of the Society and paid subscription as provided in the rules and whose membership has not terminated by resignation, removal or otherwise

(c) “General Body” constitutes the aggregate of the members of the Society.

(d) “Managing Committee” means Managing Committee of the Society to whom, by the rules and regulations of the Society, the management of the affairs is entrusted.

(e) “Office Bearers” means the President, the Hon. Vice President, the Hon. Secretary, the Hon. Joint Secretary and the Hon. Treasurer.

(f) “Act”means the“The Karnataka Societies Registration Act, 1960”.

(g) “Rules” means the Rules & Regulations of the Society as herein contained or as amended, altered or substituted from time to time.

(h) “Memorandum” means the Memorandum of Association of the Society.

(i) “Person” shall include associations heads, individuals, firms, institutions, establishments and Companies.

(j) “Year”means the financial year of the Society which until otherwise determined by the Soci- ety shall extend from 1st April to 31st March.

NOTE: Words importing masculine gender shall include the feminine and words in singular shall include its plural.

MEMBERSHIP:
Classes of Members:

There shall be three classes of members in the Society, viz.,

(i) Active/Ordinary members
(ii) Affiliate members Institutional (iii) Honorary members
(iv)

Active Members:

Any firm, establishment or company engaged in tourism and hospitality business having an established main place of business in Karnataka shall be eligible for membership as an Active Member of the Society.

(1) IATA Accredited Operators, Tour Operators / Travel Agents approved by Ministry of Tourism, Govt. of India or Department of Tourism, Government of Karnataka with GST registration from Karnataka. Active Members of IATO / TAAI / TAFI/ ETTA and other trade bodies having their main operations in Karnataka.

(2) Hotels, Hotel owning companies, Resorts, Wellness Centers, Spa’s, or Restaurants, classified by the Ministry of Tourism, Government of India or approved by Department of Tourism, Govt. of Karnataka.
(3) Karnataka Tourism Development Corporation Ltd

(4) Jungle Lodges & Resorts Ltd
(5) Karnataka Exhibition Authorities
(6) Bangalore International Airport Limited
(7) HAL Airport and HAL Helicopter division.
(8) Airport Authority of India (AAI)
(9) Karnataka Small Scale & Industrial Development Corporation (KSSIDC).
(10) Home Stays, Service Apartment, Guest Houses, registered and approved by Central or State Govt. or local authorities
(11) Mangalore Port Trust
(12) An airline, international or domestic.
(13) Ayurveda Centers approved by Central or State Govt.
(14) Institutes for hospitality/tourism/travel studies offering courses approved by Central or State Govt. /AICTE, All Chambers of Commerce including BCIC, BIAL, FKCCI, BCCI, etc.,
(15) District Tourism Promotion Councils.
(16) Departments of Government of India engaged in tourism related activities within Karnataka (17) Departments of Government of Karnataka
(18) Any establishment not covered under any of the above which in the opinion of the Manag- ing Committee should be admitted as an active member
(19) Principal Chief Conservator of Forest, Govt. of Karnataka
(20) Head of Eco Tourism Board in Karnataka.

Affiliate Members:

Any person, firm or company not falling under any of the categories mentioned in 10 above and who is regularly engaged or associated with tourism related activities and has an established place of business in Karnataka or any other State or Union Territory of India shall be eligible to be an affiliate member. The affiliate member shall have a right to participate but shall have no right to vote in the meetings of the Society.

Honorary Members:

Managing Committee may at its discretion admit any person whom it considers to be a promi- nent and renowned person as an Honorary Member of the Society. The Honorary Members are not required to contribute to the funds of the Society.
The Honorable Minister for Tourism, Government of Karnataka is Patron of the Society, the Sec- retary Tourism of the Government of Karnataka and the Director Tourism of the Government of Karnataka shall be ex‐officio Honorary Members of the Society.

Admission Fee & Subscription:

Active and Affiliate Members shall contribute to the funds of the Society, an admission fee of Rs. .3000/- for Active Members and Rs.2500/-for Allied Members plus applicable taxes at the time of admission and registration as a member. Annual subscription payable on or before the 31st May of each year. The quantum of entrance fee and annual subscription for future years shall be as decided by the Managing Committee from time to time.

Admission of Member:
Process of selecting a Member:
A member shall be enrolled based on at least three-fourth of MC members present, approving such application. In case of any equally divvied vote, President of the meeting shall have the 2nd casting vote to decide.

(1) An application for membership shall be made in the prescribed form and recommended by
2 active members of the Society. The application form shall be submitted to the Secretary of the Society who shall submit the same for the consideration of the Managing Committee at its next meeting. The Managing Committee shall have absolute power and discretion to accept or reject any application without being bound to give any reason and the decision of the Managing Com- mittee shall be final, provided however that in appropriate cases the General Body may direct the Managing Committee to admit any firm, establishment or company as a member in accordance with the rules. A candidate whose application is rejected shall be eligible to apply again only after the expiry of 12 calendar months from the date of rejection.

(2) The Managing Committee shall in special cases have power to allow any firm, establishment or company to become a member of the Society for such purposes subject to such conditions and upon payment of such sums as the Managing Committee may in their absolute discretion think fit. In such cases, the Managing Committee shall have power to and may dispense pay- ment of admission fees.

Admission of members shall be restricted to persons recommended by the Managing Committee or the General Body of the Society from among persons who are engaged in lawful activities con- nected with the tourism industry. Any application for membership shall be made in the specified form and recommended by 2 active members of the Society. The application shall be considered by the Managing Committee which shall have the discretion to decide any question which may arise as to the eligibility or otherwise of any firm, establishment or company for membership and the decision of the Managing Committee thereon shall be final, provided however that in appro- priate cases the General Body may direct the Managing Committee to admit any firm, establish- ment or company as a member in accordance with these Rules.

Enrolment of members:

Members can only be enrolled in the name of the associations, firm, establishment or company under which they carry on their business and shall for all purposes of the Society be represented by the person nominated as their representative in their application for membership or subse- quent renewal application. Such nominee shall be entitled to exercise all or any of the rights and privileges of membership as regards attendance and voting at meetings and otherwise generally as effectually as the member represented by him/her. The nomination made in the application may be altered by the member by notice in writing to the Secretary. The nomination will become effective after the Secretary has acknowledged the receipt of the writing containing the nomina- tion. However, no alterations can be made after the final voters’ list is published by the Returning Officer to the election to the Managing Committee.

Succession:

An Active member, may, by notice in writing registered with the Society, nominate any one from his associations / firms or company, successor from time to time, by like notice, cancel such nomination and/or substitute the nominee. On the death of such a member, the successor so nominated shall be enrolled as Member in his/her place and the successor shall have all the powers and privileges his/her predecessor had. The rights and privileges of a member shall not be transferred and any such transfer which is not in accordance with the above provision shall not be binding or recognized by the Society.

Initial Members:

Notwithstanding anything in these Rules, the establishments represented by the signatories to the Memorandum shall be the Initial Members of the Society.

Register of Members:

(1) The Secretary of the Society shall keep a Register of all the members of the Society in which shall be entered in separate columns the following particulars as regards each member viz. (1) Name under which
each member carries on business, (2) the class of the member, (3) the address given in the appli- cation, (4) the date when the member became a member, (5) the name of the person nominated as representative by the member in his or their application, and (6) if and when the member ceases to be a member, the date of such ceasing.

(2) Every member shall forthwith notify in writing to the Secretary any change of address and name of any substituted nominee appointed by the member and sanctioned by the Managing Committee and the alterations shall be immediately entered in the Register by the Secretary.

Cessation /Termination of Membership:

The Membership of any member shall cease/be terminated in the following circumstances:‐

(a) On resignation by a letter addressed to the Secretary or change in association.
(b) On the failure to pay the annual subscription within a period of 3 months after it has fallen due for payment; provided however that the Managing Committee shall before terminating his membership give 10 days’ notice in writing or by email to the member to show cause as to why his membership should not be terminated
(c) On being adjudicated insolvent or having suspended payment or compounded with his creditors or ordered to be wound up by a competent court
(d) On being found guilty by a competent court or tribunal of an offence involving, in the opin- ion of the Managing Committee, moral turpitude or gross misconduct

Exclusion and suspension of member:

Any member who acts to the detriment of or against the interests of the Society or who shall fail in the observance of or violate any of the Articles of Association or the bye laws of the Society or whose conduct or action in the opinion of the Managing Committee is improper or is prejudicial to the Society or is detrimental to the interests of the public may after due enquiry be censured, suspended or excluded from the Society by the General Body. The General Body may act either on its motion or on the motion of the Managing Committee or written charges preferred by a number of members. Provided however that no member shall be excluded from the Society except by a resolution passed at a General Meeting of the Society with three‐fourth majority of the members present and voting at such meeting after notice of the resolution proposed to be passed and an opportunity to defend himself in person or by another member appointed by him is given to the concerned member. Any member who has been excluded under these rules shall not be eligible to apply for membership again for a period of two years.

A member ceasing to be a member by any means shall forfeit all rights to or claims upon the Society but shall nevertheless remain liable for and shall pay to the Society all moneys which may be due from him to the Society.

Rights and Privileges of Members:

The rights and privileges of every member shall be personal and shall not be transferred by his own act, or by operation of law, except in the case of a Association, limited company or part- nership firm in any of which cases the rights and privileges of the member may be enjoyed by either a director or such other responsible officer of the Associations or limited company as may be duly appointed in writing or by any partner or officer of the partnership firm as may be duly appointed in writing by the firm.

The rights and privileges of members shall include:

(a) Active Members only – To vote, if present, at a General Meeting of members
(b) To receive notice of all the annual and extraordinary general meetings,
(c) To propose or second an applicant for membership,
(d) To serve as an office bearer or Managing Committee Member of the Society,
(e) To make representations to the Managing Committee regarding any business or trade issues that affects the travel and the tourism industry.

GENERAL BODY:

General Body:

The General Body of the Society shall consist of all members of the Society. The General Body shall hold meetings whenever required or whenever called by the Managing Committee. Howev- er, voting rights shall remain with only Active members.

General Meetings:

(a) The Quorum for a General Meeting shall not be less than 51% members present in person.

(b) Not less than twenty one days’ notice of General Meetings shall be given to members which shall specify the day, hour, place and purpose of the meeting.

(c) Minutes of all proceedings of General Meetings shall be entered in the books kept for the purpose. The minutes shall be read and passed at the next meeting.

(d) Decisions shall be taken on any issue by a simple majority vote on a show of hands unless otherwise stated. Each member shall have one vote. However, a member shall be eligible to vote only if he has previously paid all subscription dues to the Society.

(e) The President shall preside over the meetings of the General Body and in his/her absence, the Hon. Vice President and in the absence of both, the meeting may elect one among the members present to preside over the meeting.

Annual General Meeting:

There shall be held an Annual General Meeting of the Society at least once in every calendar year within 3 months of closing of the Annual Accounts and not more than twelve months shall elapse between one Annual general Meeting and the next. Provided, however that the first Annual General Meeting of the Society may be held at any time within twelve months from the date of registration of the Society. At the Annual General Meeting the following business shall be transacted:

1. a)  to consider and adopt the Annual Report presented by the Committee;
2. b)  to consider and adopt the annual balance sheet and audited accounts of the societyand the Auditor’s Report on the Accounts of the Society;
3. c)  to elect members to the Managing Committee (at every alternate Annual General Meeting);
4. d)  to appoint an auditor and fix their remuneration; and
5. e)  to transact such other business as may be included in the Agenda for the meeting.

Extraordinary General Meeting:

(a) The Managing Committee of the KTS society may at any time call an Extra‐ ordinary General Meeting of the Society by giving 21 days’ notice.

(b) The Managing Committee of the KTS society shall within one month after receipt of a requi- sition in writing from not less than 50 members setting out the matter to be discussed, call an extraordinary general meeting after giving the usual 21 days notice.

MANAGING COMMITTEE:

Composition:

The management of the affairs of the Society shall vest in the Managing Committee consisting of fifteen members unless the Society shall in the General Meeting decide otherwise. The Secretary ‐ Tourism of the Government of Karnataka, the Director‐ Tourism of the Government of Karnataka, the Managing Director of the Karnataka Tourism Development Corporation Limited, the Managing Director of Jungle Lodges & Ltd and the Immediate Past President of the Karnata- ka Tourism Society shall be the ex‐officio members of the Managing Committee. The President, the Hon. Vice President, the Hon. Secretary, the Hon. Joint Secretary, the Hon. Treasurer and the remaining five members shall be elected directly by the General Body in accordance with these rules. CEO appointed will be part of managing committee without voting power.

The Managing Committee shall appoint a person with sufficient experience as Returning Officer

for the conduct of election. The Returning Officer shall take necessary steps for the conduct of election and the Managing Committee shall render all necessary help to the Returning Officer for the conduct of the election. However, the Managing Committee of the KTS will have the right to frame the procedures and rules for the smooth conduct of the election from time to time.

Election of Members to Managing Committee:

The first Managing Committee shall be the persons whose names, descriptions and addresses are given in clause 7 of the Memorandum of the Society. They shall hold office until the second Annual General Meeting of the members. The members of the subsequent Managing Committee shall be elected at the Annual General Meeting of the Society to hold office for a period of two years. Any casual vacancy arising on account of the death, retirement or resignation of a Manag- ing Committee Member shall be filled in by the Managing Committee provided however that the person who is appointed shall hold office only for such period as his predecessor would have. Retiring members of the Managing Committee shall be eligible for re‐election. A list of the Man- aging Committee shall be filed with the Registrar within 14 days of the Annual General Meeting.

Office Bearers:

The Office Bearers ie., the President, the Honorary Vice President, the Honorary Secretary, the Honorary Joint Secretary and the Honorary Treasurer along with the remaining five members of the Managing Committee other than ex officio members shall be elected directly by the General Body in accordance with these rules.

All office bearers shall be elected from Active Members only.

Proceedings of the Managing Committee:

(a) The Managing Committee may meet at such intervals as is considered necessary to transact business and conduct, adjourn or otherwise regulate meetings and proceedings as the Commit- tee thinks fit; provided however that the Managing Committee shall meet at least once in two months. Such meetings shall be convened by the President or the Honorary Secretary.

(b) The Quorum for meetings of the Executive Committee shall be seven members present in person. The President shall preside over the meetings of the Managing Committee.

(c) At every meeting of the Managing Committee voting shall be in person, by a show of hands and or by secret ballot. Each member shall have one vote provided however that in the event of equality of votes, the President shall have a second casting vote. No member of the Managing Committee may vote on any matter in which he has a pecuniary interest.

(d) In the absence of the President, the Hon. Vice President or in the absence of both, the mem- bers present shall choose one amongst themselves to be the Chairman for that meeting.

(e) Notice of every meeting of the Managing Committee stating the general nature of all business to be transacted at the meeting signed by the Secretary shall be sent by email
to each member of the Managing Committee at least 5 clear days before such meeting unless urgent circumstances require short notice; but the proceedings of a meeting held bona fide shall not be invalidated by any inadvertent irregularity or omission in respect of such notice or by reason of any business being transacted which is not specified in the notice.

(f ) A Resolution circulated to all members of the Managing Committee and approved in writing by a majority of them shall be as valid as a Resolution passed at a meeting duly convened and held.

(g) The Managing Committee shall keep minutes of all its meetings which shall be read, ap- proved and signed by the Chairman at the next meeting.

Powers and Duties of the Managing Committee:

The Managing Committee shall in addition to the powers and duties stated elsewhere, have the following powers and duties:
(a) To take appropriate steps to carry out the objects of the Society,
(b) To purchase or otherwise acquire property, rights or privileges at such prices and under such terms and conditions as the Managing Committee thinks fit,

(c) To invest in or deal with the funds in such a manner as may be beneficial to the Society and its members,
(d) To dispose of applications for membership from those eligible under the rules of admission with or without assigning any reason,

(e) To control the finances of the Society,
(f) To enforce the rules and bye‐laws of the Society,
(g) To appoint a Chief Executive Officer, other officers, clerks, and servants of the Society on such terms and conditions as may be decided, and to suspend, discharge, retire or dismiss any of them and to vary or alter the terms and conditions of service from time to time in such manner as it thinks fit,
(h) To take disciplinary action against any member,
(i) To raise funds on behalf of the Society and for the benefit of the Society,
(j) To enter into contract with others for the benefit of the Society,
(k) To convene general meetings of the Society,
(l) To appoint the first auditor of the Society and to fix his remuneration and the expenses reim- bursable,
(m)To maintain proper books of account and records to reflect the transactions of the Society and to get them audited by a duly appointed auditor.
(n) To form Committees and Sub‐Committees and delegate its powers to such committees and sub committees or any office bearer or employee of the Society.
(o) To borrow subject to approval of General Body only.

Powers and Duties of the Office Bearers:
President
The President shall have general control over the affairs of the Society. He can direct the Secre- tary to convene a meeting of the Managing Committee. He can appoint in consultation with the Secretary and with the approval of Managing Committee such persons as he thinks fit to execute the functions of the Society. He shall execute all documents on behalf of the Society. He shall generally perform such duties as pertains to the office of the President. He shall also chair the meetings of the Managing Committee and of the members. In the absence of the President, the Vice‐President shall perform the duties of the President.

Hon. Vice President

To assist the President in all matters. To take charge in the absence of the President. To take as- signments entrusted by President. To take care of any duties assigned by the Managing Commit- tee.

Honorary Secretary

The Honorary Secretary shall be the administrative head of the Managing Committee. His duties are as follows:

(a) To receive all applications for membership in the Society and to place them before the Man- aging Committee for its consideration and disposal,
(b) To take appropriate steps to execute the decisions of the Managing Committee,
(c) To convene meetings of the Managing Committee as well as the general body in consultation with the President,

(d) To prepare the agenda for the meetings for approval of President,
(e) To maintain a page numbered minutes book to record the proceedings of the meetings of the Committee and the General Body,
(f ) To place before the Managing Committee all important correspondence up to the date of the meeting,

(g) To make arrangements for the conduct of the business of the Society and control over office, (h) To keep custody of all documents and records of the Society,
(i) To maintain a petty cash balance to meet the day‐to‐day expenses of the Society,
(j) To represent the Managing Committee in all legal proceedings before authorities,

(k) To give effect to the directions or decisions of the Managing Committee & General Meeting, (l) To take all such measures and do all such things as may be required to achieve the objects of the Society.

Hon. Joint Secretary

To assist the Hon. Secretary in all matters. To take charge in the absence of the Hon. Secretary. To take assignments entrusted by President/Hon. Secretary. To take care of any duties assigned by the Managing Committee.

Honorary Treasurer

The Honorary Treasurer shall be the sole custodian of all the funds and accounts of the Society, and he shall perform the following duties:

(a) To receive and deposit in the bank all entrance fees, subscriptions, donations and other mon- eys payable to the Society and to keep regular accounts and vouchers for receipts and payments and to submit every month an abstract showing the financial position of the Society for the inspection of the Managing Committee,

(b) To get the annual accounts audited by the auditor,
(c) To operate the bank account jointly with any other office bearer,
(d) To give effect to all directions and decisions of the Society in General Meetings or of the Man- aging Committee,
(e) To look after and safeguard the financial interest of the Society to the best of his ability,
(f ) To implement all rules and regulations of financial control and to ensure adequacy of internal control in the administration of the Society.

ACCOUNTS AND AUDIT

Accounts:

a) The Society shall keep at its registered office, proper books of account, containing accurate details of:

i) All sums of money received and the sources thereof and all sums of money spent by the Soci- ety and the matters in respect of which the receipt and expenditure took place,
ii) All sales and purchases of goods by the Society,
iii) The assets and liabilities of the Society giving true and fair view of the state of affairs of the Society.

b) The Managing Committee shall at least once in every calendar / financial year, cause to be prepared a balance sheet and income and expenditure account for the year. The balance sheet and the income and expenditure account stated above shall be signed by at least two members of the Managing Committee.

c) The said annual accounts shall be examined, audited and certified by Chartered Accountant appointed by the AGM.

d) A copy of the balance sheet, statement of receipts and payments and the income and expen- diture account duly certified by at least two members of the Managing Committee shall be filed with the Registrar with the appropriate fee.

e) The first auditors shall be appointed by the Managing Committee within one month of the date of registration of the Society and his or their remuneration shall be fixed by the Managing Committee. Such first Auditor/Auditors shall hold office till the conclusion of the first Annual General Body Meeting. Subsequent auditors shall be appointed by the members at the Annual General Body Meetings.

f ) Subject to any reasonable restrictions as to the time and manner of inspecting as may be imposed by the Managing Committee the said accounts shall be open to inspection of the mem- bers of the Society.

OPERATION OF BANK ACCOUNT:

The Society shall open, maintain, operate and close account or accounts with any bank or banks in India or abroad and pay or earn interest and withdraw money from such account or accounts and make, draw, execute and issue cheques / Net Banking / RTGS / NEFT. Any one of the office bearers along with the Chief Executive Officer, as may be decided by the Managing Committee from time to time, shall operate the bank account or accounts.

33 (a) The Society shall not borrow any money by way of loan or otherwise. No member shall be personally liable to the dues of the Society unless he has given his personal guarantee.

LEGAL PROCEEDINGS:

(1) All legal proceedings by/against the Society shall be in the name of the President or the Hon. Secretary. No suit or proceedings by or against the Society in any civil court shall abate or discontinue by reason of the person by or against whom such suit or proceedings shall have been brought or continued dying or ceasing to fill the character in the name whereof he shall have sued or been sued, but the same suit or proceeding shall be continued in the name of or against the successors of such person. If the decree is against the person or officer named on behalf of the Society, such decree shall not be executed against the property, movable or immov- able, or against the body of such person or officer, but against the property of the Society only.

(2) Governing Law and Jurisdiction
All the matters shall be governed by the laws of India and Courts having the jurisdiction of the location of the registered office of the KTS, i.e, Bangalore, Karnataka, India.

(3) Liability of Members and MC: Liabilities or claims against society are limited and members individually are not liable. Members are not liable for any claim arising out of action of society individually.

The Society may sue any member in any of the following cases:

a) where he is in arrear of subscription
b) where he possesses or detains any property of the Society in a wrongful manner
c) where he injures or destroys any property of the Society
d) where he embezzles or defrauds any money or property of the Society
e) where he commits or any act whereby the funds or property of the Society is put to loss.

AMENDMENTS:
36. Notwithstanding anything herein contained, the Memorandum or the Rules may be amend- ed altered or modified only by a special resolution passed by not less than two‐third majority of the Members of the Society present in person at a meeting convened specially for the purpose, giving at least twenty one days notice of the proposal for the amendment and in accordance with the Act.
A true copy of all amendments shall be submitted to the Registrar’s Office within fourteen days from the date of the General Body Meeting at which the amendments are made.

36A. No amendment to the Memorandum of Association and Rules and Regulations will be made without the prior approval of the General Body.

DISSOLUTION:
37.If at any time it is found that the affairs of the Society can no longer be carried on for any reason the Society may be dissolved by a special resolution passed by not less than three‐fourth majority of the Members of the Society at a meeting convened specially for the purpose, giving at least twenty one days notice of the proposal for the dissolution. If upon winding up or dissolu- tion of the Society there remains after satisfaction of all claims and liabilities any property of the Society whatsoever, the same shall be given or transferred to some other Society having objects similar to the objects of the Society as lawfully decided by the Society at the time of dissolution and in default thereof the same shall be disposed of in accordance with the provisions of the Act.

37A. In the event of dissolution, the net assets, if any, after satisfying all the debts and liabilities shall either be transferred to Societies/Trusts having the same or similar objectives or shall be vested with the Government.
38.These Rules shall be read subject to the provisions of the Act.

Subscription

We, the several persons whose names, occupations, addresses and signatures are given below are desirous of being formed into a Society by name of “Karnataka Tourism Society ” under Kar- nataka Societies Registration Act 1956 in pursuance of this Memorandum of Association.

Dated this the 12th day of February 2019