Section 33 in Jammu and Kashmir Co-operative Societies Rules, 2001
33. Restrictions on borrowings by Co-operative Societies
(1)Subject to the provision of sub-rule (2) a Co-operative Society shall not receive deposits and loan, whether from members or non-members which exceed the limit fixed, from time to time by the Registrar in this behalf for the society or for class of societies to which it belongs.(2)A Co-operative Society which accepts deposits and loans from members only and has no liability to any person other than the members, may receive such deposits and loans in excess of the limit referred to in sub-rule (1) if the excess amount is deposited in a Co-operative Bank to which it is affiliated or is invested in Government or other securities specified in section 20 of the Trusts Acts, Samvat 1977:Provided that the amount so deposited or invested or any part thereof, is not withdrawn otherwise or utilised except for the repayment if the deposits accepted in excess of the aforesaid limit.
