Section 55 in The Goa Co-operative Societies Act, 2001
55. Investment of funds outside the business.
- 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.
