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Section 44: Conditions for Financial assistance on furnishing sureties

The Uttar Pradesh Sahkari Gram Vikas Bank Rules 1971State Rules of Uttar Pradesh · 1964

A person desirous of securing financial assistance from the Bank on furnishing sureties under sub-section (2) of Section 21-B of the Act shall be provided with the desired assistance, if he-

(i) furnishes two sureties to the satisfaction of the Bank for the required financial assistance;

(ii) executes a declaration of first charge on the project created from the financial assistance and other assets belonging to him on stamp paper of requisite value;

(iii) furnishes a Guarantee Deed executed by sureties in favour of the Bank guaranteeing the repayment in case of his default.

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1. Subs. by Noti. No.232-C(IFC)/XII-C-1Bh-80-74, dated 29-8-1977. Published in U.P. Gazette , Part-1-ka, dated 10-09-1977.

2. Chapter-V-A containing Rules 44 and 45, inserted by Noti. No.1577-C(IFC)/XII-C-1Bh-71-76, dated 22-01-1990. Published in U.P. Gazette, (Extraordenary) Part-IV Section (Kha) dated 22-01-

Where this provision sits

ActThe Uttar Pradesh Sahkari Gram Vikas Bank Rules 1971
Section44
Marginal noteConditions for Financial assistance on furnishing sureties
JurisdictionState of Uttar Pradesh
StatusIn force as published by the source

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