Section 95(1) in The Orissa Co-operative Societies Rules, 1965
(1)It shall be competent for the State Government to constitute one or more guarantee funds on such terms and conditions as it may deem fit for the purpose of meeting losses that might arise as a result of loan to be made by the Land Development Banks on title to immovable property subsequently found to be defective or for any other purpose for which, in the opinion of the State Government, it is necessary to provide for or create separate guarantee funds.
