Section 44 in Rajasthan Co-operative Societies Act, 2001
44. Financial partnership or aid of the Government.
(1)Notwithstanding anything contained in any law for the time being in force, the Government may(a)subscribe directly to the share capital of a co-operative society:(b)subject to the appropriate bye-laws, provide moneys to an apex society for purchase of shares in other co-operative societies, subjects to the condition that no such shares in any co-operative society shall be purchased except with the previous approval of the Government in each case;(c)give loan or make advances to co-operative societies:(d)guarantee the repayment of principal and payment of interest on debentures issued by a co-operative society.(e)guarantee the repayment of share capital of a co-operative society and dividends thereon, at such rates as may be specified by the Government:(f)guarantee the repayment of principal and payment of interest on loans and advances to a co-operative society;(g)give financial assistance in any other form, including subsidies, to any co operative society:Provided that liability in respect of any shares purchased with Government money either directly by the Government or through any other co-operative society shall, in the event of its being wound up, be limited to the amount paid in respect of such shares :[Provided further that the Government shall not hold more than twenty-five percent of the total share capital of a short term co-operative credit structure society and such society or the Government shall have option to further reduce the Government's share capital.] [Added by Notification No F. 2(15) Vidhi/2/2010 dated 3-4-2010 w.e.f. 16-10-2009.](2)Notwithstanding any agreement to the contrary, the Government shall not be entitled to a dividend or interest on shares of any such co-operative society at a rate higher than that at which such dividend or interest is payable to any other shareholder of the society.
