Section 47(1) in The Meghalaya Co-operative Societies Rules
(1)The maximum amount which a society may receive as deposit and borrow form its members and non-members shall be determined at an Annual General Meeting of the society and no society shall borrow beyond the maximum amount so determined and in force for the time being :Provided that the Registrar or any person authorised by him may, at any time, reduce the limit fixed by the general assembly.
