State Act
60
Section 60. Restrictions on loans.
THE KARNATAKA CO-OPERATIVE SOCIETIES ACT, 1959.
Act no. 11 of 19591959In forceKarnataka (State Act)
60. Restrictions on loans.- (1) A co-operative society shall not make a loan to any person other than a member: Provided that 1[XXX]1 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.