Section 46A in The Maharashtra Cooperative Societies Rules, 1961
46A. [ Restrictions on borrowings from non-members. [Added by G.N. of 5.2.1975.]
- No society shall receive or raise loans from non-members [including any banking company other than the Central Bank], unless specially authorised by [the Cooperative court] [Substituted 'the Registrar' by Notification No. CSL-2014/697/C.R.04/13C, dated 30.8.2014 (w.e.f. 23.12.1961).] and such non-member from whom any loan is received or raised, gives an undertaking to the society that any dispute arising out of the transaction shall be referred to the Registrar for decision under Section 91.]
