State Act

The Maharashtra Co-operative Societies Act, 1960

2[70. Investment of funds.— 3[A society] shall invest or deposit its funds in one or more of the following :— 4[(a) in a District Central Co-operative Bank or the State Co-operative Bank, having awarded at least “A” Audit Class in last three consecutive years;] (b) in any of the securities specified in section 20 of the Indian Trusts Act, 1882 (II of 1882); (c) in the shares, or security bonds, or debentures, issued by any other society with limited liability and having the same classification to which it belongs; 5[(d) in any other mode permitted by the rules, or by general or special order in that behalf by the State Government:] Provided that, no society shall invest more than such proportion of it’s paid up share capital as may be prescribed: Provided further that, the co-operative credit structure entity shall invest its funds subject to guidelines as may be issued, from time to time, by the Reserve Bank of India.]