Section 47 in The Assam Co-operative Societies Rules, 1953
47. Borrowing limit.
(1)The maximum amount which a society may receive as deposit and borrow from its members and non-members shall be determined at an Annual General Meeting of the society and no society shall borrow beyond the maximum amount so determined and in force for the time being :Provided that the Registrar or any person authorised by him may, at any time, reduce the limit fixed by the general assembly.(2)Save as is provided in Rule 48 no society shall incur liabilities from persons who are not members in excess of the maximum limit fixed from time to time in a meeting of the general assembly subject to the approval of the Registrar.
