The U P Sahkari Gram Vikas Bank Act 1964
State Act of Uttar Pradesh ยท Act 16 of 196438 provisions
The enactment
| Type | Act |
|---|---|
| Citation | Act 16 of 1964 |
| Year | 1964 |
| Jurisdiction | State of Uttar Pradesh |
| Status | In force as published by the source |
| Provisions published | 38 |
| Subjects | financial, local |
Full text, provision by provision
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- Section 1 Short title, extent and commencement
- Section 2 Definitions
- Section 3 Number of Gram Vikas Banks
- Section 4 Appointment of Trustee and his powers and functions
- Section 5 Trustee to be a Corporation Sole
- Section 6 Issue of debentures by the Board
- Section 7 Vesting of property in Trustee and Debenture -holders charge on the assets
- Section 8 Guarantee by State Government of Principal and interest of the money to be borrowed by means of debentures or otherwise
- Section 9 Guarantee Fund
- Section 9-A Power to borrow money
- Section 10 Priority of mortgage over certain claims
- Section 11 Right of Gram Vikas Banks or of the Uttar Pradesh Gram Vikas Bank to purchase mortgaged property
- Section 12 Mortgages executed in favour of Gram Vikas Bank to stand vested in Uttar Pradesh Gram Vikas Bank
- Section 13 Power of Uttar Pradesh Gram Vikas Bank to receive moneys and grant discharges
- Section 14 Right of Gram Vikas Banks to pay prior debts of mortgagor
- Section 15 Distraint when to be made
- Section 16 Power of sale when to be exercised
- Section 17 Power of Gram Vikas Bank where mortgaged property destroyed or security becomes insufficient
- Section 18 Power of Board or of Trustee to distrain and sell property, etc
- Section 19 Title of purchaser not to be questioned on the ground of irregularity, etc
- Section 20 Mortgage not to be questioned on insolvency of mortgagor
- Section 21 Appointment of receiver and his powers
- Section 21-C Provisions of this Act to apply to hypothecation
- Section 21-A Vesting of rights of alienation on agriculturists not having such rights
- Section 21-B Creation of charge in favour of Gram Vikas Bank or Uttar Pradesh Sahkari Gram Vikas Bank
- Section 22 Restriction on mortgagor's power to lease or to create other rights in the mortgaged and charged property
- Section 23 Registration of documents executed in favour of Gram Vikas Bank or The Uttar Pradesh Gram Vikas Bank
- Section 23-A Revenue register for noting charge or mortgage
- Section 24 Delegation of certain powers by Board
- Section 25 Sections 102, 103 and 104 of the Transfer of Property Act, 1882 to apply to notices under this Act
- Section 26 Mortgages executed by manager of Joint Hindu Families
- Section 27 Modification subject to which section 8 of the Hindu Minority and Guardianship Act, 1956 shall apply to the mortgages under this Act
- Section 28 References to banks in other Acts how construed
- Section 28-A References to banks in other Acts now construed after the commencement of the Uttar Pradesh Sahkari Krishi Evam Gramya Vikas Banks (Amendment) Act, 1994
- Section 29 Power of the Board to make regulations
- Section 30 Power of State Government to make rules
- Section 31 Trustee and others to be public servant
- Section 32 Public servant not to bid at sale
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