Section 157 in Uttarakhand Co-Operative Societies Act, 2003
157. Power of the Board of Uttarakhand State co-operative Bank to make regulations.
- The Board of Uttarakhand State co-operative Bank, may subject to the approval of Trustee, make regulations not inconsistent with the provisions of this Act, the rules and the bye-laws of Uttarakhand State co-operative bank, providing for all or any of the following matters----(a)fixing the period of debentures and the rate of interest payable thereon;(b)calling the debentures after giving notice to debenture-holders;(c)issue of new debentures in place of debentures damaged or destroyed;(d)converting one class of debentures into another bearing a different rate of interest;(e)valuation of properties offered as security for loans;(f)investment of moneys realized from mortgagors; and(g)generally for any other matter in respect of which the Board considers that the provisions should be made for carrying out the purpose of this Chapter:Provided that the regulations framed under section 157 shall be subject to the approval of State Government.
