Section 39(a) in Rajasthan Co-operative Societies Act, 1965
(a)any person who makes an application to a society of which he is a member for a loan, other than a short term loan as defined in section 84 shall, make a declaration in the prescribed form which shall state that the applicant thereby creates a charge on the immovable property owned by him and specified therein for the payment of the amount of the loan which the society may make to the member in pursuance of the application and for all future advances, if any, required by him from time to time which the society may make to him as such member, subject to such maximum as may be determined by the society together with interest on such amount of the loan and advances.
