Section 54 in The Orissa Co-operative Societies Rules, 1965
54. Members to furnish information as to their financial position and alienation of their immovable properties and creditors of members to furnish statements of their claims.
(1)A full, true and accurate statement of his assets and liabilities shall be furnished by -(a)an applicant for membership of credit Society with unlimited liability alongwith his application;(b)a member of a Society which has one of its objects the advance of loan to its members, when applying for a loan or when required to do so by the Registrar or a person authorised by the Registrar, in this behalf by a general or special order by the financing Bank of which the Society is a member;(c)a person joining as surety in the application of member for a loan from a Society.(2)A member of a Society which has one of its objects the advance of loans to its member, shall before the completion of each such transaction, furnish to the Society, full, true and accurate information regarding any sale, mortgage or transfer in any form whatsoever of his immovable property or any proportion or share thereof and regarding any loan proposed to be incurred from any person other than the Society on the security of such property or otherwise including the amount and the object of such loan.
