Section 153 in The U.P. Co-operative Societies Rules, 1968
153.
If a co-operative society is in default to its financing bank to the extent of not less than fifteen per cent of the loan held by the society from the bank, such a society shall not utilise any part of its profits for any of the purposes mentioned in clauses (a) to (e) of sub-section (2) of Section 58 without the general or special permission of such financing bank.
