Section 68 in The Tamil Nadu Co-Operative Societies Act, 1983
68. Investment of funds.
- Subject to the provisions of sub-section (3) of section 66, a registered society may invest or deposit its funds in-(a)the shares or deposits of the financing bank, or(b)the shares or deposits of any co-operative bank, or(c)the shares or securities of any other registered society, or(d)any of the securities specified in section 20 of the Indian Trusts Act, 1882 (Central Act II of 1882), or(e)any other mode as may be prescribed:Provided that no such investment shall be made in any manner as aforesaid, other than in the shares or deposits of the financing bank, except with the general or special sanction of the Registrar and subject to such terms and conditions as may be specified by him.Explanation. - For the purposes of this section, "co-operative bank" means such registered society as the Government may, by notification, specify in this behalf, to be a co-operative bank.
