Section 4(2) in Tamil Nadu Co-operative Societies Rules, 1988
(2)The chief promoter shall deposit all the moneys collected towards initial share capital and entrance fees in such financing bank or co-operative bank as may be approved by the Registrar in that behalf within seven days from the date of receipt of the moneys:Provided that the chief promoter may retain such amount as may reasonably be necessary to meet the expenditure referred to in sub-rule (4).
