section 8
Noting of charge or mortgage created in favour of a bank in the Record of Rights.
The Meghalaya Credit Operation and Miscellaneous Provisions Act, 1976Finance197625 sections
Statutory text
- (1) Whenever a charge or a mortgage on land or interest therein is created in favour of a bank by an agriculturist, the bank may give intimation to the District Council or such Revenue Official as may be designated in this behalf by the State Government of the particulars of the charge or mortgage in its favour.
- (2) The District Council of the Revenue Official, as the case may be, shall make note of the particulars of charge or mortgage in the record of rights as may be available relating to the land over which the charge or mortgage has been created.
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