Section 7 • THE ASSAM AGRICULTURAL CREDIT OPERATIONS AND MISCELLANEOUS PROVISIONS (BANKS) ACT, 1977
Section 7. Removal of disability in creation of charges and mortgages.
Notwithstanding anything to the contrary contained in the Assam Co-operative Societies Act, 1949 (Act 1 of 1950) or any other law for the time being in force and notwithstanding that any land or interest therein stands already charged or mortgaged to a co-operative society it shall be lawful for an agriculturist to create a charge or mortgage on such land or interest therein in favour of a bank as security for any financial assistance given to the agriculturist by the bank.
{
"act_title": "THE ASSAM AGRICULTURAL CREDIT OPERATIONS AND MISCELLANEOUS PROVISIONS (BANKS) ACT, 1977",
"act_slug": "assam-agricultural-credit-operations-and-miscellaneous-provisions-banks-act-1977",
"section_label": "Section",
"section": {
"number": "7",
"title": "Section 7. Removal of disability in creation of charges and mortgages.",
"chapter": null,
"content": "Notwithstanding anything to the contrary contained in the Assam Co-operative Societies Act, 1949 (Act 1 of 1950) or any other law for the time being in force and notwithstanding that any land or interest therein stands already charged or mortgaged to a co-operative society it shall be lawful for an agriculturist to create a charge or mortgage on such land or interest therein in favour of a bank as security for any financial assistance given to the agriculturist by the bank.",
"footnote": "1 of 1950",
"is_definition": false,
"sort_order": 340
},
"prev_section": "34",
"next_section": "8"
}
