Section 61(1) in Jammu and Kashmir Co-Operative Societies Act, 1989
(1)A co-operative society shall not make a loan to any person other than a member:[Provided that a Co-operative Society may make loans to other Co-operative Societies:Provided further that the Co-operative Credit Structure Society may take appropriate decision regarding its loan policies including individual loan decision keeping in view the interests of the Society and its members.][Substituted for "Provided that, with the general or special sanction of the Registrar, a co-operative society may make loans to other co-operative society." by Act No. X of 2010, Dated 28.4.2010, Dated 28.4.2010, w.e.f. 29.4.2010.]
