Section 5: Advance of loans and execution of loan bonds

The Odisha Displaced Persons (Rehabilitation Loans) Act, 1955State Act of Odisha · Act 18 of 1956

(1) The loan sanctioned under Section 4 may be advanced in one lump sum or in instalments according as the sanctioning authority may in its discretion decide.

(2) Before receiving the advance of loan the borrower shall execute a bond in the prescribed form undertaking to apply the amount of loan solely for the purpose for which, and to comply with the terms and conditions on which, the loan is sanctioned and such bond shall include any sum referred to in Subsection (4) of Section 4, and in the event of the loan being advanced in instalments a bond in the form so prescribed shall be executed on receipt of each such instalment.

Where this provision sits

Act	The Odisha Displaced Persons (Rehabilitation Loans) Act, 1955
Section	5
Marginal note	Advance of loans and execution of loan bonds
Jurisdiction	State of Odisha
Status	In force as published by the source

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