Section 67(1) in Himachal Pradesh Co-Operative Societies Rules, 1971
(1)Subject to the provisions of the Act the State Government may :(i)make share capital contribution to a society; or(ii)give loans or financial assistance or any other type of assistance to a society; or(iii)guarantee the payment of the principal or debentures issued by a society; or interest thereon, or both; or(iv)guarantee the payment of the principal and payment of interest on loans and advances given by the Reserve Bank of India, or the State Bank of India, or any other authority or institution constituted under any law for the time being in force; or(v)grant aid in any other form to a society under section 48 on the following terms and conditions, namely ;(a)when the State Government purchases shares in a society, it shall be entitled to dividend on the said shares as is declared by the society concerned, and is payable to other members of that society;(b)a society receiving State-aid shall not pay any dividend or distribute or take profit in excess of such percentage of rate upon the amount of the capital of the society as the State Government may, from time to time, fix;(c)a society receiving State-aid shall, with the approval of the Registrar, appoint a paid Secretary or Manager of the society;(d)a society receiving State-aid shall be bound :-(i)to comply with any general or special order of the State Government relative to the inspection of the society;(ii)to permit the inspection of all accounts relative to the society;(iii)to maintain such accounts and to furnish such statements and returns as the State Government or the Registrar, may, from time to time, require; and(iv)to comply with any order or conditions issued or imposed by State Government, as may in its opinion be necessary, or expedient, to safeguard its interest.
