State Act
14
Section 14. Certain loans to be made only by cheques
THE UTTAR PRADESH REGULATION OF MONEY-LENDING ACT, 1976
Act no. 29 of 19761976In forceUttarakhand (State Act)
14- (1) Every loan advanced, after the commencement of this Act, by a money-lender shall be evidenced by a cheque, if the amount of such loan is one thousand rupees or more : [Provided that nothing in this sub-section shall apply to a transaction where a fresh bond or promissory note is executed in lieu of a bond or promissory note which remains wholly or partly unpaid.]1 (2) Every transaction of money-lending in relation to a loan advanced in contravention of sub-section (1) shall be void.