Mortgages executed in favour of Land Development Bank to Stand Vested in Trustee

44 J. Mortgages executed in favour of Land Development Bank to Stand Vested in Trustee.- The mortgages executed in favour of and all other assets transferred to the State Cooperative Land Development Bank by its members, either before or after the commencement Bihar Cooperative Societies (Amendment) Ordinance, 1975 shall vest in the Truste with effect from the date of such execution or transfer and likewise mortgages or transfer of assets in favour of Primary Cooperative Land Development Bank by its members shall be deemed to have been transferred to the State Cooperative Land Development Bank and shall vest in the Trustee.