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[Cites 0, Cited by 0] [Section 49] [Entire Act]

State of Odisha - Subsection

Section 49(7) in The Orissa Co-operative Societies Rules, 1965

(7)A Society which accepts deposits and loans from members only and has no liability to any person other than the members may receive such deposits and loans in excess of the limit referred to in Sub-rule (1) if the excess amount is deposited in a Bank to which it is affiliated or is invested in Government or other securities specified in Section 20 of the Indian Trusts Act, 1882, provided that the amount so deposited or invested, or any part thereof is not withdrawn or otherwise utilised except for the repayment of the deposits accepted in excess of the aforesaid limit.