Section 35(1) in The Tripura Co-operative Societies Rules, 1976
(1)No society other than those referred to in Rules 36 and 37 with limited liability shall, without the previous sanction of the Registrar, incur liability exceeding in total ten times the total amount of its paid up share capital, accumulated reserve fund and building fund minus accumulated losses:Provided that Urban Banks and Producers' Societies shall not, except with the previous sanction of the Registrar, incur liabilities exceeding fifteen times the total of their paid up share capital, accumulated reserve fund and building fund minus accumulated losses.Explanation. - In calculating the total amount of liabilities for the purposes of this sub-rule, in the case of any society or class of societies the bye-laws of which permit borrowing or granting credit facilities on the pledge of agricultural produce or other goods, specified in that behalf by the Registrar, by general or special order, a sum equal to the amount borrowed by such society or class of societies, on the security of agricultural produce or other goods of such society or its members, shall be excluded from the amount of the actual liability under this rule.
