Amendment status not verified — confirm the current text below against the official source.
(1) When a member of a co-operative society, which includes among its objects the advance of loans to its members, applies for a loan or when a person applies for membership of such a society, the society may in the prescribed manner serve a notice on any creditor named in the application or ascertained after subsequent inquiry, and may also publish a general notice on all creditors, requiring him or them, in the prescribed form and within the time specified in the notice, to furnish a written statement of his or their claim. (2) When a member of a co-operative society, which includes among its objects the advance of loans to its members, intends to apply for a loan from any person other than the society, such member shall send to the society a notice in writing stating— (a) his intention to apply for such loan, 182 The West Bengal Co-operative Societies Act, 1973. XXXVIII of 1973.] (Chapter V.—Privileges of co-operative societies.— Sections 45-47.) (b) the amount of the loan for which he intends to apply, and (c) the object of taking the loan. Co-operative