Amendment status not verified — confirm the current text below against the official source.
Inspection of books by financing bank.- (1) A financing bank shall have the right to inspect through an officer or a member of its paid staff the books of any registered society which is its member or a society financed by such member. (2) An officer or member of the paid staff of the financing bank inspecting the books of a society shall at all reasonable times have free access to the books, accounts, documents, securities, cash and other properties belonging to or in the custody of the society and may also call for such information, statements and returns as may be necessary to ascertain the financial condition of the society. (3) An officer of the financing bank shall also have power to summon any person in possession of or responsible for the custody of any books, accounts, documents, securities, cash and other properties referred to in that sub-section to produce the same for inspection or verification at any place at the headquarters of the society or any branch thereof.