Section 54(1) in The Orissa Co-operative Societies Rules, 1965
(1)A full, true and accurate statement of his assets and liabilities shall be furnished by -(a)an applicant for membership of credit Society with unlimited liability alongwith his application;(b)a member of a Society which has one of its objects the advance of loan to its members, when applying for a loan or when required to do so by the Registrar or a person authorised by the Registrar, in this behalf by a general or special order by the financing Bank of which the Society is a member;(c)a person joining as surety in the application of member for a loan from a Society.
