Multi-State Co-Operative Societies Act, 2002
Section - 66 - Restriction on loans
Restriction on loans66. (1) A multi-State co-operative society, other than a co-operative bank, shall not make a loan to a member on the security of his share or on the security of a non-member.(2) Notwithstanding anything contained in sub-section (1), a multi-State co-operative society may make a loan to a depositor on the security of his deposit.
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