Section 57(3) in Himachal Pradesh Co-Operative Societies Rules, 1971
(3)The prohibition contained in the rule shall continue to apply for a period of two years after a person ceases to be an officer of the society.The rule debars the officers of the society to have interest in any contract made with the society or any property sold, purchased or leased by the society. Moreover, no officer of the society can purchase the property of a loan member, which is put to sale in default of non-payment.
