You can borrow money if you are part of a building society. This means you can get money from someone else and agree to pay it back later. You can decide how you want to borrow the money and what rules to follow when you pay it back. But, you need to check if your building society has any special rules about borrowing money. If they do, you must follow those rules too. This is allowed because of two parts of the law called section 9A and section 9B.
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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM371765.
Without limiting the generality of section 9A or section 9B, but subject to any restriction contained in the rules of the society, a society may borrow money on such terms and conditions as the society thinks fit.
