The Meghalaya Co-operative Societies Act, 2015 (Act No. 11 of 2015)
Section 18. Loan to be utilized for the purpose for which advanced.
The Loan advanced by a registered co-operative society to a member thereof shall be utilized by him for the purpose for which it was advanced and for no other purpose. The co-operative society shall have power to recover the advance as prescribed if the member does not so utilize it.
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