Section 77 in Tamil Nadu Co-operative Societies Rules, 1988
77. Restrictions on borrowings by societies.
(1)The borrowings of a society shall not exceed the maximum borrowing limit fixed in its by-laws or the limit, if any, fixed by the Registrar in respect of that society or any class or category of societies to which that society belongs, whichever is less.(2)No society shall borrow from any source other than the Government or the financing bank except with the prior approval of the Registrar and subject to such limits and conditions as he may impose.
