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(Querist)
08 January 2014 1.Can a society registered under cooperative societies act ,give guarantee in respect of term loan taken by another person.
2.Can a society registered under cooperative societies act accept loan from its employees.
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Ankit

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Ankit (Expert)
08 January 2014 Dear Ritika,

the provisions as regards the loans as per the Co-op Societies Act is as follows:

Section 30. Restrictions on borrowing. A registered society shall receive deposits and loans from persons who are not members only to such extent and under such conditions as may be prescribed by the rules or by- laws.

- Ankit
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Ritika

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Ritika (Querist)
09 January 2014 and what about guarantee???can it become a guarantor???
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Ritika

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Ritika (Querist)
09 January 2014 & what is limit for receiving loan & deposits from non-members.
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