BACOMP ActJharkhand1977
The Bihar Agricultural Credit Operations and Miscellaneous Provisions (Banks) Act, 1977
Act No. 7 of 1977
- Sections
- 29
- Chapters
- 6
Contents
IPreliminary§ 1–22 sections
IIRights of Agriculturists to alienate land or interest in land in favour of Banks§ 3–64 sections
IIICharges and mortgages in favour of Banks and their priorities§ 7–115 sections
- 7Removal of disability in creation of charges and mortgages. - Notwithstanding anything to the contrary contained in the Bihar and Orissa Cooperative Societies Act, 1935 (B. & O. Act VI of 1935) or any other law for the time being in force and notwithstanding the fact that any land or interest therein stands already mortgaged to or is subject to a charge of 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 that bank
- 8Priority of charges and mortgages in favour of Government, a bank and a co-operative society
- 9Registration of charges and mortgage in favour of banks
- 10Noting of charge or mortgage created in favour of a Bank in the record of rights
- 11Restriction on creation of tenancy by an agriculturist borrower
IVArrangements for recovery of dues by Banks§ 12–143 sections
VFinancing of Co-operative Societies by Banks§ 15–2410 sections
- 15Section 15
- 16Power of co-operative societies to borrow from banks
- 17Inspection of books of co-operative society by a bank
- 18Disputes between a bank and co-operative society
- 19Settlement of dispute
- 20Procedure for hearing of dispute
- 21Decision of Registrar or any person exercising the powers of Registrar or arbitrator/arbitrators
- 22Recovery of money awarded
- 23Powers of a bank to proceed against defaulting members of a cooperative society
- 24Audit, inspection and inquiry reports of societies to be available to banks