Section 66(1) in Haryana Co-operative Societies Act, 1984
(1)With the previous sanction of the trustee, a co-operative society may float debentures or issue bonds of one or more denominations, for such periods, as it may deem expedient, on the security of the mortgages and charges and other assets transferred or deemed to have been transferred by a society to it and on the security of all or any of its other assets.[Provided that the debentures may be floated or bonds issued for long-term loans advanced without mortgage or charge on land or other immovable property subject to the condition that guarantee is given by the State Government for the repayment of the loans so advanced.] [Added by Act No. 32 of 1986.]
