Section 71 in Assam Co-Operative Societies Act, 2007
71. Power of Government to give financial assistance.
- Notwithstanding anything contained in any other law for the time being in force, the State Government may, on the request of the cooperative society, supported by a resolution passed by the General Assembly of the cooperative society, grant loans, to take shares or guarantee the principal or the interest or both in respect of debentures issued by any cooperative society or give financial assistance in any other form to any registered society which puts forwards a satisfactory schemes for the utilisation of the funds so raised. The State Government may recover from any society out of its net profit in any year all or any part of such financial assistance.
