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Section 14: Utilisation of sale proceeds

The Meghalaya Credit Operation and Miscellaneous Provisions Rules, 1979.State Rules of Meghalaya · 1976

(1) Where any crop, produce or other movable property is distrained and sold in accordance with these Rules, the amount due to the bank and the expenses 4 | T H E M E G H A L A Y A C R E D I T O P E R A T I O N A N D M I S C E L L A N E O U S P R O V I S I O N S R U L E S , 1 9 7 9 .

incurred for distraint and sale shall be deducted from the sale proceeds and the balance, if any, shall be paid to the agriculturists concerned.

(2) The agriculturist or his heir or legal representative shall be given a receipt for the amount appropriated from the sale proceeds.

Where this provision sits

ActThe Meghalaya Credit Operation and Miscellaneous Provisions Rules, 1979.
Section14
Marginal noteUtilisation of sale proceeds
JurisdictionState of Meghalaya
StatusIn force as published by the source

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