A corpus fund is also known as a capital fund. It is money set aside to support the operations, existence, and maintenance of an organisation or other institution. These assets, which are acquired by voluntary contributions, are not intended to be used for the fulfilment of any goals.
The Corpus Fund sum may also be moved to the Sinking Fund. It can be then used for significant repairs, rebuilding, structural repairs, or redevelopment. This can be done once the housing association has been officially founded.
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Society wants to give their building for redevelopment and they are asking for corpus funds from builders. What are the laws for this corpus fund? Is it refundable or not?
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2022-12-15T09:59:41+00:00 2022-12-20T09:52:25+00:00Comment
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