Disposal of assets on liquidation
88.  Upon winding up of a society, the assets must be applied first to the costs of liquidation, then to the discharge of the liabilities of the society, then to the payment of the share capital or subscription capital, and then, provided that the by‑laws permit, to the payment of a dividend or patronage refund at a rate not exceeding that laid down in the Rules or in the by‑laws for any period during which no dividend or patronage refund was in fact paid.