Power of the Board or Trustee to take action against defaulters

44 W. Power of the Board or Trustee to take action against defaulters. –

1. (1) The Board or the Trustee may direct the managing committee of a primary Cooperative Land Development Bank to take action against a defaulter under sections 44-S,44-T,44-U or 44-V and if the managing committee neglects or fails to do so, the Board or the Trustee may take such action. The Trustee may direct the Board to take similar action against a defaulter and on the Board]s neglect or failure to do so, may take such action himself.
2. (2) Where an action is taken under the provisions of sub-section
3. (1) by the Board, the provisions of this Chapter or any rules made in pursuance there of shall apply as if all references therein to a primary Co-operative Land Development Bank and its managing committee were references to the State Cooperative Land Development Bank and the Board.
4. (3) When an action is taken under the provisions of sub-section
5. (1) by the Trustee, the provisions of this Chapter or any rules made in pursuance thereof shall apply as if all references therein to primary Cooperative Land Development Bank and its managing committee or the state Cooperative Land Development Bank or the Board were references to the Trustee.