State Act
89F
Section 89F. Officers of banks not to bid at sales.
THE KARNATAKA CO-OPERATIVE SOCIETIES ACT, 1959.
Act no. 11 of 19591959In forceKarnataka (State Act)
89F. Officers of banks not to bid at sales.- At any sale of movable or immovable property, held under the provisions of this Chapter, no officer or employee of an 1[Agriculture and Rural Development Bank]1 or the 1[State Agriculture and Rural Development Bank]1 , except on behalf of the bank of which he is an officer or an employee, and no person having any duty to perform in connection with such sale, shall either directly or indirectly bid for or acquire or attempt to acquire any interest in such property.