Section 62 in The Tripura Co-operative Societies Act, 1974
62. Investment of funds.
- A society shall invest or deposit its funds in one or more of the following:(a)in the State Co-operative Bank or State Bank of India.(b)in any of the securities specified in Section 20 of the Indian Trusts Act, 1882 (II of 1882);(c)in the shares or security bonds or debentures issued by any other society with limited liability;(d)in any banking company approved for this purpose by the Registrar, and on such conditions as the Registrar may, from time to time, impose;(e)in the postal savings bank; or(f)to any other mode permitted by the rules, or by general or special order of the Government.(2)Notwithstanding anything contained in sub-section (1) the Registrar may order a society or class of societies to invest any funds in a particular manner or may impose conditions regarding the mode of investment of funds. It will be an abeyance on the part of the officers wilfully failing to comply with the requirements of this section.
