section 59
Restriction of loans
The Odisha Co-operative Societies Act, 1962Corporate196296 sections
Statutory text
(1) A Society shall not advance a loan to any person other than a member except with the general or special sanction of the Registrar. (2) Notwithstanding anything contained in Sub-Section (1), a Society may advance a loan to a depositor on the security of his deposit.
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