Section 39(a) in Rajasthan Co-operative Societies Act, 2001
(a)any person, who makes an application to a society of which he is a member for a loan other than a short term loan or for a bank guarantee and/or a person, who executes a guarantee for such person, shall make a declaration in the prescribed form, which shall state that the applicant and/or guarantor thereby creates a charge on the immovable property owned by him/them and specified therein for the payment of the amount of the loan, advances or guarantee, as the case may be, which the society may make to the member in pursuance of the application and for all future advances, if any, required by him from time to time which the society may make to him as such member, subject to such maximum as may be determined by the society together with interest on such amount of the loan and advances or guarantee;
