(1) A registered society shall not make a loan to any person other than a member:
Provided that, with the general or special sanction of the Registrar, a registered society may make loans to another registered society.
(2) Save with the sanction of the Registrar, a society with unlimited liability shall not lend money on the security of moveable property.
(3) The State Government may, by general or special order, prohibit or restrict the lending of money on mortgage of immoveable property by any registered society or class of registered societies.
Co Operative Societies Act 1912
Section 21 of Cooperative Societies Act - Shares or interest not liable to attachment
Section 22 of Cooperative Societies Act - Transfer of interest on death of member
Section 23 of Cooperative Societies Act - Liability of past member
Section 24 of Cooperative Societies Act - Liability of the estates of deceased members
Section 25 of Cooperative Societies Act - Register of members
Section 26 of Cooperative Societies Act- Proof of entries in societies books
Section 29 of Cooperative Societies Act - Restrictions on loans
Section 30 of Cooperative Societies Act - Restrictions on borrowing