Section 31 in The Assam State Co-operative Agriculture and Rural Development Bank Limited
31. Power to invest money and proceed against mortgagors.
- Subject to the approval of the Trustee, the Board shall be competent-(i)to invest money at its credit in any investment or deposit authorised by Section 51 of the Assam Co-operative Societies Act, 1949 or in other securities approved by Registrar ;(ii)to proceed against the Mortgage Banks or the mortgagors or against both or other member, in case of default of money due to the bank ;(iii)to exercise any of the powers conferred or may be conferred under the Assam Co-operative Act and Rules in force ;(iv)to borrow money for the purposes of the Bank on such terms as it may deem expedient.
