Section 78(3) in Tamil Nadu Co-operative Societies Rules, 1988
(3)No society shall dispose of any immovable property (other than a property purchased at a sale held in execution on or a decree by the society or by the financing banks to which the society is affiliated) for recovery of any sum due to the society acquired by the society without the prior sanction of the general body and the Registrar:Provided that a housing society or a society the object of which is to purchase and sell immovable property, may dispose of such immovable property without the sanction of the general body and the Registrar.
