Section 60 in Karnataka Co-Operative Societies Act, 1959
60. Restrictions on loans.
(1)A co-operative 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 co-operative society may make loans to another co-operative society.(2)Notwithstanding anything contained in sub-section (1), a co-operative society may make a loan to a depositor on the security of his deposit.
