Section 59 in The Orissa Co-operative Societies Act, 1962
59. Restrictions of loans.
(1)A Society shall not advance a loan to any person other than a member except with the general or special sanction of the Registrar.[Provided that a Primary Agricultural Credit Co-operative Society, Largesized Adivasi Multipurpose Co-operative Society, Service Co-operative Society and Farmers' Service Co-operative Society shall not advance any loan to any person other than a member.] [Inserted by Orissa Act 1 of 2008 Section 20 (O.G.E. No. 654 dated 20.3.2008).](2)Notwithstanding anything contained in Sub-Section (1) a Society may advance a loan to a depositor on the security of his deposit.
