State Act
Section 121. Mortgages 2[and other instruments] executed in favour of 3[a Co-operative Agriculture and Rural Multipurpose Development Bank] to stand vested in 4[State Agriculture and Rural Multipurpose Development Bank].
The Maharashtra Co-operative Societies Act, 1960
121. Mortgages 2[and other instruments] executed in favour of 3[a Co-operative Agriculture and Rural Multipurpose Development Bank] to stand vested in 4[State Agriculture and Rural Multipurpose Development Bank].— The mortgages, 5[instruments of hypothecation, guarantee, pledge or charge] executed in favour of, and all other assets transferred to 6[a Co-operative Agriculture and Rural Multipurpose Development Bank], by the members thereof, before or after the commencement of the Act, shall, with effect from the date of such execution or transfer, be deemed to have been transferred by such 7[Co-operative Agriculture and Rural Multipurpose Development Bank], to the 8[State Co-operative Agriculture and Rural Multipurpose Development Bank], and shall vest in the 9[State Co-operative Agriculture and Rural Multipurpose Development Bank].