State Act

The Bihar Co-operative Societies Act, 1935

44 I. Right of Land Development Bank to purchase mortgaged property.- Notwithstanding the provisions contained in the Bihar Land Reforms (Fixation of Ceiling Are3a and Acquisition of Surplus Land) Act, 1961 (Bihar Act XII of 1962) but subject to any tenancy law for the time being in force, it shall be lawful for Land Development Bank to purchase any mortgaged property sold under this Chapter, and the property so purchased shall be disposed to by such bank by sale in such manner and within such period as may be fixed by the trustee: Provided that a purchaser of such mortgaged property form a Land Development Bank shall purchase it subject to the provisions of the Bihar Land Reforms(Fixation of Ceiling Area and Acquisition of Surplus Land) Act, 1961 (Bihar Act Xii of 1962).