Amendment status not verified — confirm the current text below against the official source.
Restrictions on borrowings from non-members.— No society shall receive or raise loans from non-members (including any banking company other than the Central Bank), unless specially authorised by the Registrar and such non- members from whom any loan is received or, raised, gives an undertaking to the Society that any dispute arising out of the transaction shall be referred to the Registrar for decision under section 99. 46-B. Restrictions on credit sales to non-members.- Where the bye-laws of a society permit credit sales, such sales may be made to traders and other non-members, provided that the person to whom such sales are made gives an undertaking to the society that any dispute arising out of the transactions shall be referred to the Registrar or decision under section 91.