Section 94(6) in Kerala Cooperative Societies Act, 1969
(6)If any person collecting the share money for a society in formation does not deposit the same in the State Co-operative Bank, a Central Co-operative Bank, a Postal Savings bank or in any other bank approved by the Registrar within fourteen days of its receipt, he shall be punishable with fine which may extend to [five thousand rupees.] [Substituted by Kerala Act No. 1 of 2000.]
