Legal Question in Civil Rights Law in India

Bank account for co-op. hsg. society transactions

For a co-op. hsg. society under the jurisdiction of the Maharashtra Cooperative Societies department, is the society allowed by law to hold a bank account with a private bank or a scheduled bank. Is it mandatory that the bank account for operations of the society has to be with a co-operative bank only?

Thanks,

A Society Member


Asked on 2/17/09, 6:08 am

1 Answer from Attorneys
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Re: Bank account for co-op. hsg. society transactions

The society may take a decision in the meeting of Managing Committee or AGM.

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Answered on 2/17/09, 10:32 pm


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