Amendment status not verified — confirm the current text below against the official source.
(1) An application for loan shall be in such form as may be prescribed by the board and shall state the purpose for which the loan is required. 2 of 1882. 40 THE KOLKATA GAZETTE, EXTRAORDINARY, MAY 25, 2010 [PART III The West Bengal Co-operative Societies Act, 2006. Loans and advances to members and non-members. Power of State Government to give financial assistance. Limitation. Debts due to Co- operative societies to be first charge. (Chapter V—Duties and obligations of Co-operative societies.—Sections 50-53.) (2) A member of a primary Co-operative society applying for loan shall furnish a full statement of his— (i) property and debts; (ii) a scheme in case of medium term or long term loan; (iii) annual expenditure incurred and proposed to be incurred; and (iv) surplus available for repayment of the loan applied for. (3) For every loan, a member shall furnish such security as may be required under the by-laws of the Co-operative society.