THE UTTAR PRADESH CO-OPERATIVE SOCIETIES ACT, 1965
Section 59. Investment of funds
Subject to the provisions of the rules a co-operative society may invest or deposit its funds-
(a) in any of securities specified in section 20 of the Indian Trust Act, 1882 ; or
(b) in the shares or debentures of any other co-operative society ; or
(c) with any bank approved for this purpose by the Registrar ; or
(d) in any other mode as may be prescribed.
3[Provided that in the case of a Co-operative Credit society, the committee of management shall be competent to invest its surplus and other funds in any financial institution regulated by Reserve Bank in the interest of the society.]
Source: IndiaCode Portal, Legislative Department, Ministry of Law and Justice, Government of India. Open on India Code Check against the official text before relying on it.
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