Section 50 of MCS ACT 1960 : Direct partnership of State Government in societies
50.Direct partnership of State Government in societies The State Government may subscribe directly to the share capital of a society with ...
Friday, 7 October 2022
Friday, 30 September 2022
Section 49 of MCS ACT 1960 : Deduction from salary to meet society’s claim in certain cases.
49.Deduction from salary to meet society’s claim in certain cases. (1) A member of a society may execute an agreement in favour of the soci...
Section 48A of MCS ACT 1960 : Deductions from sale price of certain agricultural produce to meet society’s dues.
48A. Deductions from sale price of certain agricultural produce to meet society’s dues. (1) Where a loan has been advanced by any society i...
Section 48 of MCS ACT 1960 : Charge on immovable property of members borrowing from certain societies
48.Charge on immovable property of members borrowing from certain societies Notwithstanding anything contained in this Act or in any other l...
Section 47 of MCS ACT 1960 : Prior claim of Society
47.Prior claim of Society (1) Notwithstanding anything in any other law for the time being in force, but subject to any prior claim of Gover...
Section 46 of MCS ACT 1960 : Charge and set-off in respect of share or interest of member.
46.Charge and set-off in respect of share or interest of member. A society shall have a charge upon the share or interest in the capital, a...
Section 45 of MCS ACT 1960 : Restrictions on other transactions with non- members.
45.Restrictions on other transactions with non- members. Save as is provided in this Act, the transactions of a society with persons other t...
Section 44A of MCS ACT 1960 : Limit on interest in certain cases.
44A. Limit on interest in certain cases. Notwithstanding anything contained in any agreement or any law for the time being in force, a soci...
Section 44 of MCS ACT 1960 : Regulation of loan making policy
44.Regulation of loan making policy (1) No society shall make a loan to any person other than a member or on the security of its own shares...
Section 43 of MCS ACT 1960 : Restrictions on borrowings
43.Restrictions on borrowings (1) A society shall receive deposits and loans from members and other persons, only to such extent, and under...
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