Amendment status not verified — confirm the current text below against the official source.
Restrictions on loans :- (1) | A co-operative society shall not make a loan to any person other than a member : Provided that with the general or special sanction of the Registrar a co-operative society may make loan to another co-operative society. (2) Notwithstanding anything contained in sub-section (1), a co-operative society may make a loan to a depositor on the security of his deposit. SECTION - 46 Restrictions on borrowings :- A co-operative society shall receive deposits and loans only to such extent and under such conditions as may be prescribed or as may be specified in the bye-laws. SECTION -47