Section 27 in Jammu and Kashmir Co-operative Societies Rules, 2001
27. Prohibition against being interested in contracts etc
(1)No officer of Co-operative Society shall have an interest, directly or indirectly otherwise than as such officer:-(a)In any contract made with the society; or(b)In any property sold or purchased by the society; or(c)In any other transaction of the society except as investment made or as loan taken from the society or the provision of resident accommodation by the society to any paid employees of the society.(2)No officer of a Co-operative Society shall purchase, directly or indirectly, any property of a member of the society said for the recovery of his dues to the society.
