Section 13 in Multi-State Co-Operative Societies (Privileges, Properties and Funds, Accounts, Audit, Winding Up and Execution of Decrees, Orders and Decisions) Rules, 1985
13. Maintenance of Liquid Resources and Distribution of Assets.
- Every multi-State co-operative society which obtains any portion of its working capital by deposits, shall,-(a)maintain such liquid resources and in such form as may be specified by the Reserve Bank of India in the case of those multi-State co-operative credit societies which are coming under the purview of the Banking Regulation Act, 1949 (10 of 1949)-and by the Central Registrar in the case of other multi-State co-operative societies; and(b)utilise only such portion of its working capital in lending business and distribute its assets in accordance with such standards as may be specified from time to time by the Central Registrar.
