Restriction on loans
Section 66 of the Multi-State Co-operative Societies Act, 2002 deals with restriction on loans. A multi-State co-operative society, other than a co-operative bank, shall not make a loan to a member on the security of his share or on the security of a non-member. The Act came into force on 19 Aug 2002.
(1) A multi-State co-operative society, other than a co-operative bank, shall not make a loan to a member on the security of his share or on the security of a non-member.
(2) Notwithstanding anything contained in sub-section (1), a multi-State co-operative society may make a loan to a depositor on the security of his deposit.
Section 66, The Multi-State Co-operative Societies Act, 2002 (Act 39 of 2002).
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Referred to by 1
Questions about Section 66
What does Section 66 of the Multi-State Co-operative Societies Act deal with?
Section 66 of the Multi-State Co-operative Societies Act is headed "Restriction on loans". A multi-State co-operative society, other than a co-operative bank, shall not make a loan to a member on the security of his share or on the security of a non-member.
How do I find court cases under Section 66 of the Multi-State Co-operative Societies Act?
In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Multi-State Co-operative Societies Act 66, section 66 Multi-State Co-operative Societies Act, section 66 of the Multi-State Co-operative Societies Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.
What should I read with Section 66 of the Multi-State Co-operative Societies Act, and has it changed?
1 other provision in this corpus refers back to it.
When did Section 66 of the Multi-State Co-operative Societies Act come into force?
Section 66 of the Multi-State Co-operative Societies Act, cited as Multi-State Co-operative Societies Act 66, came into force on 19 Aug 2002, having been enacted on 03 Jul 2002. It is in force as at the date shown on this page.
Other sections of this Act
Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Text as in force on 15 Oct 2026. This page is not a substitute for legal advice.