State Act
45
Section 45. Restrictions on loans
Andaman and Nicobar Islands Cooperative Socities Regulation 1973
Act no. 3 of 19731973In forceAndaman and Nicobar Islands (State Act)
45. 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.