Section 45 in The Punjab Co-operative Societies Act, 1961
45. Restriction 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 loan 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.
