Section 45: Restrictions on loans

The Punjab Co-Operative Societies Act, 1961Union territory Act of Chandigarh · Act 25 of 1961

(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 co-operative society may make loan to another co-operative society.

(2) Nothwithstanding anything contained in sub-section (1), a co-operative society may make a loan to a depositor on the security of his deposit.

SECTION - 46 Restrictions on borrowings :- A co-operative society shall receive deposits and loans only to such extent and under such conditions as may be prescribed or as may be specified in the bye-laws.

SECTION -47

Where this provision sits

Act	The Punjab Co-Operative Societies Act, 1961
Section	45
Marginal note	Restrictions on loans
Jurisdiction	Union territory of Chandigarh
Status	In force as published by the source

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