Section 54(1) in The Maharashtra Cooperative Societies Rules, 1961
(1)A society shall, in addition to the modes specified in clauses (a) to (d) of Section 70, invest or deposit its reserve fund in any one or more of the following permitted modes namely-(i)[ ***] [Deleted by Notification No. CSL-2014/697/C.R.04/13C, dated 30.8.2014 (w.e.f. 23.12.1961).](ii)[ ***] [Deleted by Notification No. CSL-2014/697/C.R.04/13C, dated 30.8.2014 (w.e.f. 23.12.1961).](iii)In debentures issued by the Apex [Co-operative Agricultural and Rural Multipurpose Development Bank or State or Central Government] [Substituted 'Land Development Bank' by Notification No. CSL-2014/697/C.R.04/13C, dated 30.8.2014 (w.e.f. 23.12.1961).] or in Government loans, or(iv)In any immovable property [***] [Deleted 'specified by' by Notification No. CSL-2014/697/C.R.04/13C, dated 30.8.2014 (w.e.f. 23.12.1961).]the Registrar by a general or special order:[Provided that, in the case of a society whose reserve fund is equal to or more than its paid-up share capital, such society may invest that portion of the reserve fund which is in excess of its paid-up share capital, or a portion thereof, in its business decided by general body meeting with prior approval of the Registrar.] [Substituted by Notification No. CSL-2014/697/C.R.04/13C, dated 30.8.2014 (w.e.f. 23.12.1961).]Provided further that, in the case of Central Co-operative Banks [or] [Substituted 'and' by Notification No. CSL-2014/697/C.R.04/13C, dated 30.8.2014 (w.e.f. 23.12.1961).] the State Co-operative Bank, the Registrar may, by general or special order, authorise such Banks to invest fifty per cent of their reserve fund in their business.
