Investment of funds.

A society shall invest or deposit its funds in one or more of the following:

1. (a) in a Central Bank or the State Co-operative Bank;
2. (b) in any of the securities specified in section 20 of the Indian Trusts Act, 1882;
3. (c) in the shares, or security bonds, or debentures, issued by any other society with limited liability and having the same classification to which it belongs : Provided that, no society shall invest more than such proportion of it’s paid up share capital as may be prescribed; Provided further that, the provisions of this clause shall not apply to any investment made by any agricultural credit society in any processing society based on agricultural produce)
4. (d) in any co-operative bank (other than those referred to in clause (a) of this section) or banking Company, approved for this purpose by the Registrar, and on such conditions as the Registrar may from time to time impose;
5. (e) in any other mode permitted by the rules, or by general or special order of the State Government