section 55
Investment of funds outside the business
The Goa Co-operative Societies Act, 2001Corporate2001147 sections
Statutory text
Such of its funds as are not needed for use by a society may be invested or deposited outside its business—(a) in the local postal saving bank; (b) in any of the securities specified in section 20 of the Indian Trusts Act, 1882 (Central Act 2 of 1882); (c) in the shares, debentures, and deposits in the State Co-operative Bank; (d) in a co-operative or nationalised or scheduled bank; (e) in any federal society of which it is a member; (f) in deposits with Government companies. (g) in any other mode permitted by the rules or by general or special order of the Government.
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