Section 45: Restrictions on loans

Andaman and Nicobar Islands Cooperative Socities Regulation 1973Union territory Act of Andaman and Nicobar Islands · Act 3 of 1973

(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 cooperative society may make loans 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.

Where this provision sits

Act	Andaman and Nicobar Islands Cooperative Socities Regulation 1973
Section	45
Marginal note	Restrictions on loans
Jurisdiction	Union territory of Andaman and Nicobar Islands
Status	In force as published by the source

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