Section 60 in The U.P. Co-operative Societies Act, 1965
60. Restrictions on borrowings.
- A co-operative society shall receive deposits and loans only to such extent and under such conditions as may be prescribed or as may be specified in the bye-laws:[Provided that a Primary Agriculture Credit Co-operative Society shall receive deposits only from its ordinary members admitted under Section 17 of this Act and no other person shall be allowed to make deposit in a Primary Agriculture Credit Co-operative Society.] [Inserted by U.P. Act 47 of 2007, Section 13.]
