Section 157 in The Orissa Co-operative Societies Rules, 1965
157. Collection of share money.
(1)Any person collecting share money of a Society in information shall within a fortnight deposit the same in State Co-operative Bank or Central Co-operative Bank or in Postal Savings Bank.(2)Any person collecting the share money for a Society in information shall not make use of the funds for conducting any business or trading in the name of the Society to be registered or otherwise.(3)Non-compliance of the provisions of Sub-rules (1) and (2) shall be deemed as an offence under Section 115 of the Act.
