Hong Kong Regulations

CO-OPERATIVE SOCIETIES RULES - RULE 44

Security for loans

Loans, when approved by the committee, shall be granted to members who are
able to obtain two sureties approved by the committee. If the committee are of
the unanimous opinion that the member's personal character and industry are
such that other security is not necessary then, on approval by the Registrar,
such loan may be made to the member without sureties or other security.