AdvocateKhoj
Login : Advocate | Client
Home Post Your Case My Account Law College Law Library
    

Co-Operative Societies Act 2008


35. Maximum liability on deposits and loans

1.     In pursuit to Section 117 of the Act, every registered society shall from time to time fix, at a general meeting, the maximum liability the society may incur in loans or deposits from a member or non-member.

2.     The maximum liability fixed by paragraph (1) is subject to the approval of the Registrar.

3.     No society shall exceed the maximum approved by the Registrar pursuant to paragraph (2).

4.     The Registrar may, at any time, review the maximum approved pursuant to paragraph (2) and vary that maximum.

5.     No society shall accept shares or ordinary deposits of more than $20,000 in any one transaction from a member or non-member without an accepted declaration of the Source of Funds.



Co-Operative Societies Act 2008 Back




Client Area | Advocate Area | Blogs | About Us | User Agreement | Privacy Policy | Advertise | Media Coverage | Contact Us | Site Map
powered by nubia  |  driven by neosys