Section 40(2) in Jharkhand Co-operative Societies Rules, 2008
(2). (A) A Society may mobilise debentures, deposits, raise loans and receive grants from external sources to such extent and under such conditions as may be specified in the bye laws. Deposits and loans raised from external sources, however, shall at no time exceed ten times the sum of member funds and organisational reserves less accumulated deficits, if any,(B)A Society may accept funds/ guarantees from the government or other financing institution for the fulfilment of its objectives on such terms and conditions as are mutually contracted upon and such conditions may include the right of the government or other financier to nominate one expert on the Board.Provided that the acceptance of loans and deposits from members and non members shall be subject to such condition as to the maintenance of fluid resources and such restrictions as to the area and on such terms and conditions as to the amount and period of loans and deposits, dates of maturity and refund, rates of interest and notice of withdrawal, as may from time to time, be decided in the general body.
