State Act
59
Section 59. Investment of funds
THE UTTAR PRADESH CO-OPERATIVE SOCIETIES ACT, 1965
In forceUttar Pradesh (State Act)
59. Investment of funds Subject to the provisions of the rules a co-operative society may invest or deposit its funds- (a) in any of securities specified in section 20 of the Indian Trust Act, 1882 ; or (b) in the shares or debentures of any other co-operative society ; or (c) with any bank approved for this purpose by the Registrar ; or (d) in any other mode as may be prescribed. 3[Provided that in the case of a Co-operative Credit society, the committee of management shall be competent to invest its surplus and other funds in any financial institution regulated by Reserve Bank in the interest of the society.]