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State of Maharashtra - Section
Section 107B in The Maharashtra Cooperative Societies Rules, 1961
107B. [ Security to be furnished by officers and employees of societies handling cash, etc. [Added by G.N. of 8-11-1971.]
- Every officer or employees of a society who is required to handle cash securities or property belonging to the society, [shall furnish security which shall not be less than that shown as under]: -| Amount of security to be furnished by | Nature of security to be furnished | ||||
| An officer | Any other employee | ||||
| Rs. | Rs. | ||||
| (1) | If the paid up share capital of the society towhich the security is to be furnished is Rs. 1.50 lakhs or less. | 1,000 | 500 | (a) (i) | Cash security of Rs. 200 and |
| (ii) | for the remaining amount in the form ofpersonal security of fidelity guarantee policy or | ||||
| (b) | Full amount in cash or in the form ofGovernment securities or postal saving certificates, dulyendorsed in favour of the society. | ||||
| (2) | If the paid-up share capital of the society towhich the security to be furnished is above Rs. 1.50 lakhs. | 2,000 | 1,000 | Do. |