Section 61 in Sikkim Co-Operative Societies Act, 1978
61. Restrictions on loans.
(1)A society shall not make a loan to any person other than a member:Provided that with the general or special sanction of the Registrar a society may make loan to another society:Provided further that a society may make such loans as maybe specified in the bye-laws to any of its paid employees.(2)Notwithstanding anything contained in sub section (1) a society may make a loan to depositor on the security of his deposit.
