State Act
57
Section 57. Restrictions on loans.
Act no. 3 of 20042005In forceDelhi (State Act)
Restrictions on loans. 57. (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 a loan to another co-operative society : Provided further that the co-operative bank shall make loans and advances as per directions of the Reserve Bank from time to time. (2) Notwithstanding anything contained in sub-section (1), a co-operative society may make a loan to a depositor within his deposit on its security.