Right of
Mortgage a
Bank to pay
prior debts of
mortgagor.
28. (1) Where a mortgage is executed in favour of 1[the
Central Mortagage Bank or] a Mortgage Bank for
payment of prior debts of the mortgagor, the Bank
may, notwithstanding the provisions of Sections 75
and 76 of the Transfer of Property Act, 1882 by
notice in writing, require any person to whom any
such debt is due, to receive payment of such debt or
part thereof from the Mortgage Bank at its registered
office within such period as may be specified in the
notice.
Section 28 • THE ASSAM CO-OPERATIVE LAND MORTGAGE BANK ACT, 1960
Section 28. (1)
assam-co-operative-land-mortgage-bank-act-1960-assam-sec-28.json
•
Section 28
{
"act_title": "THE ASSAM CO-OPERATIVE LAND MORTGAGE BANK ACT, 1960",
"act_slug": "assam-co-operative-land-mortgage-bank-act-1960-assam",
"section_label": "Section",
"section": {
"number": "28",
"title": "Section 28. (1)",
"chapter": null,
"content": "Right of \nMortgage a \nBank to pay \nprior debts of \nmortgagor.\n\n28. (1) Where a mortgage is executed in favour of 1[the \nCentral Mortagage Bank or] a Mortgage Bank for \npayment of prior debts of the mortgagor, the Bank \nmay, notwithstanding the provisions of Sections 75 \nand 76 of the Transfer of Property Act, 1882 by \nnotice in writing, require any person to whom any \nsuch debt is due, to receive payment of such debt or \npart thereof from the Mortgage Bank at its registered \noffice within such period as may be specified in the \nnotice.",
"footnote": "Act VI of \n1882.\n1. Ins. by Assam Act No. XXIV of 1964.",
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"sort_order": 710
},
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"next_section": "28"
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