Pass book to members

(1) A Co-operative society which gives loans to its members or a co-operative society or a class of co-operative societies, as may be notified by the State Government, shall provide to each member a pass book which shall contain the details of transaction with the member, such as, the date of the transaction the amount of loan advanced the rate of interest, the repayments made by the member, the amount of the principal and interest due and such other particulars as may be prescribed. The entries of the pass book shall be made up to date from time to time and shall be countersigned by such officer of the co-operative society as may be authorized by it in this behalf and for this purposes such member shall present the pass book to such officer who shall issue a receipt thereof, if the pass book is required to be detained for making entries therein. (2) The entries in the pass book duly made shall until the contrary is proved, be prima facie evidence of the transaction of the co-operative society with the member.