State Act

THE KARNATAKA SOUHARDA SAHAKARI ACT, 1997

14. Partnership of Co-operatives.- (1) Any two or more Co-operatives may, by resolutions passed by three-fourth majority of the members present and after voting at a general meeting of each of such Co-operatives, may enter into partnership to carryout any one or more specific business. A written notice of the date of the general meeting shall be given to each member before ten clear days of such meeting; 1["Provided that a co-operative Bank, shall not enter into such a partnership without obtaining prior permission of the Reserve Bank in writing."]1 (2) Nothing in the Indian Partnership Act, 1932 (Central Act 9 of 1932) shall apply to such partnership.