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Home›State Acts›The Kerala Co-operative Land Mortgage Banks Act, 1960›Chapter IV Chapter IV

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The Kerala Co-operative Land Mortgage Banks Act, 1960

Chapter IV Chapter IV

Corporate196043 sections5 chapters

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43 matching sections

0Preamble
1Short title, extent and commencement
2Definitions
3Admission of land mortgage banks registered under the Madras Co-operative Societies Act, 1932, as members of the Central Mortgage Bank
4Issue of debentures by the Board
6Guarantee by Government on principal of and interest on debentures issued under section 4
7Power of Board to make regulations
8Distraint when to be made
9Distraint how to be effected
10Sale of property distrained
12Power of sale when to be exercised
13Application for sale and manner of sale
14Application to set aside sale on deposit and confirmation of sale in default or on dismissal of such application
15Distribution of sale proceeds
16Certificate to purchaser
17Delivery of property to purchaser
18Right of Central Mortgage Bank or primary mortgage bank to purchase the mortgaged property at sale
19Appointment of receiver and his powers
20Title of purchaser not to be impeached on the ground of irregularity etc.
21Appointment of sale officer
22Power of Government to make rules
23Mortgages executed in favour of mortgage bank, etc., to stand vested in Central Mortgage Bank
24Powers of mortgage bank in case the mortgaged property is insufficient
25Power of Board or of Trustee to direct distraint and sale of produce and the sale of mortgaged property, etc.
26Bank's right to improvements effected by lessee
27Mortgage not to be questioned on insolvency of mortgagor
28Priority of mortgage over certain claims of the Government
29Right of mortgage bank to pay prior debts of mortgagor
30Power to summon witnesses and requisition documents
31Registration of documents executed on behalf of the Central Mortgage Bank or of a primary mortgage bank
32Power of mortgage bank to receive moneys and grant valid discharges notwithstanding assignment of mortgage deeds to the Central Mortgage Bank
33Special provisions for mortgages executed by managers of joint Hindu families, karanavans of Marumakkathayam tarwads or tavazhis or of Nambudiri Illoms, etc.
34Special provisions for mortgages by tenants
35Proof of documents or entries in documents
36Chapters III and IV to apply to loans advanced by mortgage banks from funds not borrowed from the Central Mortgage Bank
37Service of notice under the Act
38Sections 102, 103 and rules under section 104 of the Transfer of Property Act, 1882, to apply to such notices
39Officers of the Bank not to bid at sales
40Delegation of powers by Board
41Starting of branch banks
42Powers of Board to make regulations
43Certain rights and liabilities of the Cochin Co-operative Land Mortgage Bank to continue in that Bank
44Repeals

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