Prohibition of loans

98A. The provisions of Section 29 shall apply to co¬operative life insurance societies as they apply to other insurers.

Transferees and assignees of policies not to become members

99. No transferee or assignee of a policy issued by an insurer to whom this Part applies shall become a member of a mutual insurance company or a cooperative life insurance society merely by reason of any such transfer or assignment.

Publication of notices and documents of Mutual Insurance Companies and Cooperative Life Insurance Societies

100. Notwithstanding the provisions of Sections 79 and 131 of the Indian Companies Act, 1913 (7 of 1913), a mutual insurance company or a co operative life insurance society may, instead of sending the notices and the copies of the balance sheet, revenue account and other documents which they are required to send to the members under those sections, publish such notice together with a summary in the prescribed form of the balance sheet and revenue account once in a newspaper published in the English language and in a newspaper published in an Indian language circulating in the place where the principal office of the company is situated:

Provided that, where any members of the company are domiciled in a State other than that in which the principal office of the company is situated, publication of the notice of the meetings shall made in a newspaper or newspapers published in the principal languages of that State and circulating therein and any member of the company domiciled in that State shall be entitled on application to the company to receive from it a copy of the balance sheet and revenue account.

Supply of documents to members

101. Every mutual insurance company and every Co operative Life Insurance Society shall, on the application of any members made within two years from the date on which any such document is furnished to the Registrar of Companies under the provisions of Section 134 of the Indian Companies Act, 1913 (7 of 1913), or to the Registrar of Co operative Societies of the State in which the Co operative Life Insurance Society is registered furnish a copy of the document free of cost to the member within fourteen days of the application.