Section 108: Cooperative central finance fund

(1) There shall be a cooperative central finance fund into which every registered savings and credit cooperative shall contribute five percent of its total equity. (2) The cooperative central finance fund shall compensate members of the savings and credit cooperative society upon liquidation. (3) The cooperative central finance fund shall be administered by the Registrar. (4) The cooperative central finance fund shall be invested in a commercial bank or such other mode as the Registrar may approve. (5) Where the cooperative central finance fund has been in existence for three years, a registered savings and credit cooperative may borrow from the fund on terms and conditions determined by the Board.