Members to declare assets and liabilities

2[1[136A. Members to declare assets and liabilities, – (1) Every member shall within three months from the date of commencement of his term of office and until the expiry of his term in every calendar year and within one month of the end of t he financial year, file a declaration of the movable and immovable assets and liabilities of more than two lakhs owned by him and by all the members of his joint family in the form as may be prescribed before the state election commission through the execu tive officer of the concerned taluk panchayat; Provided that where the term of a member commences before two months of the end of the financial year, such member may file his declaration within two months after the commencement of the following financial y ear. (2) The executive officer of the concerned Taluk Panchayat shall receive the declarations filed by all the members and forward to the state election commission in the first week of May of that year and in the case of late submissions, in the first we ek of July of the year, along with a statement of members who have filed and who have not filed the declaration. (3) A member, who after filing a declaration under sub -section (1), acquires or disposes of any property or incurrs any liablility shall file a further declaration to that effect before the state election commission through the executive officer of the panchayat, within forty -five days from the date of such acquisition or disposal, as the case may be, and the executive officer shall follow the same procedure as in sub -section (1).