(1) A multi state cooperative society may receive deposits, raise and receive grants from external sources to such extent and under conditions as may be specified in the bye laws Provided that the total amount of deposits and loans receive . During any financial year shall not exceed ten times of the sum subscribed share capital and accumulated reserves: Provided further that while calculating the total sum of subscribe.

A multi state cooperative society other than a cooperative bank, make a loan to a member on the security of his share of a non-member. (2) Notwithstanding anything contained in sub section (I), a multi state society may make a loan to a depositor on the security of Provision mentioned under clause (a) of sub-section (1) the multi state cooperative society Act, 1984 has been re numbered as sub section (1) the 2002 Act.

Notwithstanding anything contained in any law for the time being a disqualification for a member of a board may execute an emend in favor of that society providing that his employer disbursing large or voyages shall be competent to deduct every month from the wages payable to him, such amount as may be specified in pay the amount so deducted to the society in satisfaction debt or other demand the member owes to the society.

A multi state cooperative society may invest or deposit its funds (a) In a cooperative bank, state cooperative bank, cooperative land development bank or central cooperative bank or (b) in any of the securities specified in the Indian Trusts Act, 1882 (c) in the shares or securities of any other multi state society or any cooperative society(c) in the shares, securities or assets of a subsidiary institution or any other institution; or (d) with any other bank; or (f) in s

No multi state cooperative society shall make a contribution, either money or in kind whether directly or indirectly, to an institution which an object of furtherance of the interest of a political party. Objective of is to avoid political interference in the work and management of a multi state cooperative society. This section Assets and liabilities or division of multi state cooperative societies.

The person authorized by him under multi state cooperative societies Act, 2002 is corresponding to 1981. There are following changes: (1) There is a change in sequence of clauses of sub-section (1) in the 2002 Act, instead of arbitration" and " arbitrator" have been mentioned.

(1) Subject to any rules made in this behalf, the whole of the assess a cooperative society in respect of which an order for winding up has been made, shall vest in the liquidator appointed under Section from the date on which the order takes effect and the liquidator shall power to real such assets by sale or otherwise.

Credit cooperative society notwithstanding anything to the contrary contained elsewhere the Central Registrar shall make an order for the winding up operative bank, if so required by the Reserve Bank in the circumspect mentioned in of the Deposit Insurance and Credit Guars Corporation Act, 1961 . Provisions of the 2002 Act are word to word sere identical of the multi state cooperative society Act, 1984 Act.

(1) No credit cooperative society with unlimited liability shall be registered after the commencement of Cooperative Society Act.

(1) No multi state cooperative society with unlimited liability shall be registered after the commencement of multi state cooperative societies Act Provided that where a  cooperative society with unlimited liability was functioning before the commencement of this Act, such a society shall exercise the option within a period of one year from such commencement either to continue to function as such or to convert itself into a multi state cooperative society with limited