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Section 31: Regtatratwn ofdocwnents e~ecuted on behalf, of the · Cen· tral Mortgage Bank or'of a p1 imary mortgage bank

The Kerala Co-operative Land Mortgage Banks Act, 1960 (President's Act No.1 of 1960)State Act of Kerala · Act 1 of 1960

(1), Not.:

withstanding anything contauied'-in.the Indian Reglstration ~t, ---- ------- l.-908·U6 of,l908), 1t shall not be necessary for any Director, Secretary or other officer of the Centrall\Iortgage Bank vr of a pr1mary mortgage bank to ai?pear In per~on or by agent at any reg1stralion office m any pr0ceed1ngs connec.ted w1th the regls­ tratwn of any mstrument executed by h1m in his official capa­ City or to sign a'> prov1dcd in section 58 of lhat Act.

(2) 'Where any mstrument :s so executed, the registermg officer to wl1om such in::.trument 1s presented for regir.tration may, 1£ he thmks fit, refer to such D1rector, Secretary or Officer for information-respectmg the same, and, on be1ng satisfied of the execution thereof, shall register the instrument.

32. Power of rno1·tgage bank . to receive moneys and g1·ant valid discha1·ges notwzthsfaltdmg assignment of mortgage deeds to the Central Mortgage Bank -Notwtthslandmg that a mort-.

gage executed 111 favour of a prtmary mortgage bank has been transferred, or is deemed under the .P• OVISions of section 23 to have been transfer1ed, to the Central Mort!:,age Bank- '(a) all money<; due .under the mortgage shall, in the abst:ncc of any spectfic d1rect10n •to the contrary is--ued by the!Board or the Trustee and communt­ cated·to the mortgagor, be payable to the primary mortgage bank and such payment shall bE' as valtd as if the mortgage had not been so•transferred; and

(b) the prtmary mortgage bank shall, m the absence of any spectfic d1rect10n to the contrary,issued by the Boa1 d or the Trustee and comn1umcated to the prtmary mortgage hank be enlltled to sue on the mortgage or take any other proceedings for the recovery of the moneys due under the mortgage.

Where this provision sits

ActThe Kerala Co-operative Land Mortgage Banks Act, 1960 (President's Act No.1 of 1960)
Section31
Marginal noteRegtatratwn ofdocwnents e~ecuted on behalf, of the · Cen· tral Mortgage Bank or'of a p1 imary mortgage bank
JurisdictionState of Kerala
StatusIn force as published by the source

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