law: Co-Operative Societies Act 2008 
  24.
  
  Security for loans
  The
  
  Board of Directors, shall by resolution, establish within the credit policy,
  
  requirements with respect to—
  a.      the collateral
  
  security and/or guarantors required for approved loans; and
  b.     the manner in which
  
  the fair market value of any real property obtained as a security for a loan is
  
  to be calculated.