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Section 62: Other forms of State aid to societies

The Maharashtra Co-operative Societies Act, 1960State Act of Maharashtra · Act 24 of 1961

Notwithstanding anything contained in any law for the time being in force, but subject to such conditions as the State Government by general or special order may specify in this behalf, the State Government may,—

(a) give loans to a society ;

(b) guarantee the payment of the principal of debentures issued by a society, or of interest thereon, or both, or the repayment of the share capital of a society to its members, or the payment of dividends thereon at such rates as may be specified by the State Government ;

(c) guarantee the repayment of loans given by a Co-operative Bank to a society ;

(d) guarantee the repayment of the Principal of, and payment of interest on, loans and advances given by the Reserve Bank of India, or the Industrial Finance Corporation of India, or any other authority constituted under any law for the time being in force ; or 1961 : Mah. XXIV] The Maharashtra Co-operative Societies Act, 1960 45

(e) provide financial assistance, in any other form (including subsidies), to a society 1[, including a co-operative credit structure entity].

Where this provision sits

ActThe Maharashtra Co-operative Societies Act, 1960
Section62
Marginal noteOther forms of State aid to societies
JurisdictionState of Maharashtra
StatusIn force as published by the source

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