Section 75 in Haryana Co-operative Societies Rules, 1989
75. Contribution to Guarantee Fund.
(1)Where the Government decides to constitute a guarantee fund under sub-section (1) of section 88 of the Act for a Co-operative Society or a class of co-operative societies, then such a society or class of societies shall not contribute to this fund less than two per cent of the remainder of the profits after contribution towards the reserve fund under section 87 of the Act.(2)Notwithstanding anything contained in the rules, a guarantee fund shall not be utilised in the business of a society and shall be kept [in any Co-operative Bank.] [Substituted for 'in the State Co-operative Bank' by Haryana Notification No. GSR 64/HA. 22/84/95S.131/95 dated 17.8.1995.](3)A guarantee fund shall be utilised in the manner as may be specified by the Government from time to time.
