CCOS Rules 24AChapter IV · Duties, Privileges, Property and Funds of Societies
Section 24A · [ Supply of statement of account to members. [Substituted by notification No. F-5-3-91-XV-1, dated 18-4-91.]
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(1)
Every society advancing loans to its members shall at the time of advancing first loan shall issue a 'loan pass-book' to every member in such form as may be prescribed by the Registrar.(2)
Entries in the loan pass-book shall be up-dated and certified by the Manager of the society within three months from the date of the close of a co-operative year by entering therein the transactions of loan advanced and recoveries made during the year.(3)
In case a member fails to submit his pass-book to the society for updating within three months from the close of the co-operative year, the society shall prepare a duplicate copy of the loan pass-book of the member containing all transactions upto the close of the preceding co-operative year and furnish the same to the member concerned when he applies for the same or takes a fresh loan from the society, whichever is earlier.(4)
No fee shall be charged by the society for the loan pass-book when issued for first time but such fee as may be fixed by the society shall be collected for a duplicate copy issued to the member.(5)
All entries made in the loan passbook shall be presumed to be correct unless proved otherwise.]Your private note on this section
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