Loans are given mostly on the personal security of the borrower supplemented by the guarantee of two approved sureties. In some credit cooperative society the crops grown by the borrower are taken as additional security and loans are made available according to the progress made in the agricultural operations. Where loans outstanding are in arrears or borrowings are larger than the normal credit cooperative society limit, the borrower may be required to give collateral security in the form of mortgage of his immovable property. To ensure punctual recovery, these societies require their borrowers to sell their produce through the regional purchase and sale societies. The Chief Executive may, at any time, on the direction of the board, call a special general meeting of the society and shall call such meeting within one month after the receipt of a requisition in writing from the Central Registrar or from such member or members or a proportion of the total number of members, as may be provided in the bye-laws. A multi state cooperative society shall have a charge on the share or contribution or interest in the capital and on the deposits of a member or past or deceased member and on any dividend, bonus or profits payable to a member or past member or the estate of a deceased member in respect of any debt due from such member or past member or the estate of such deceased member to the society and may set-off any sum credited or payable to a member or past member or the estate of deceased member in or towards payment of any such debt. A cooperative society is an organization owned and operated by a group of individuals for their mutual benefit. Cooperatives are defined by the International Cooperative Alliance's Statement on the Cooperative Identity as autonomous associations of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through jointly owned and democratically controlled enterprises. A multi-state cooperative society may receive deposits, raise loans and receive grants from external sources to such extent and under such conditions as may be specified in the bye-laws. A person shall not be qualified for appointment as an auditor of a multi state society unless he is a chartered accountant within the meaning of the Chartered Accountants Act 1949 (38 of 1949).Any sum awarded by way of costs under section 81 may be recovered, on application to a magistrate having jurisdiction in the place where the person, from whom the money is claimable, actually and voluntarily resides or carries on business, and such magistrate shall recover the same as if it were a fine imposed by himself. Notwithstanding anything contained in this section, no cooperative bank shall be wound up except with the previous sanction, in writing of the Reserve Bank cooperative societies function in immediately before registration.