Section 58 in Karnataka Co-Operative Societies Act, 1959
58. Investment of funds.
- A co-operative society may invest or deposit its funds,-(a)in a Government Savings Bank; or(b)in any of the securities specified in section 20 of the Indian Trusts Act, 1882 (Central Act II of 1882); or(c)in the shares or securities of any other co-operative society; or(d)[ with any Co-operative Bank; or [Substituted by Act 25 of 1998 w.e.f. 15.08.1998.](e)with any Scheduled Bank approved by the Registrar:Provided that no such approval shall be necessary for opening a current account in any Scheduled Bank by a Co-operative Bank for its regular business transaction.]
