Section 130(1) in The Maharashtra Co-Operative Societies Act, 1960
(1)Property purchased under section 133(3) by, and property transferred under section 100 to, [a Co-operative Agriculture Rural Multi-purpose Development Bank] [These words were substituted for the words 'an Agriculture and Rural Development Bank', 'Agriculture and Rural Development Bank' and 'State Agriculture and Rural Development Bank', by Maharashtra 41 of 2005, (w.e.f. 25-8-2005), Section 8.], may be disposed of by such banks by sale within such period as may be fixed by the Trustee, subject to the, condition that such sales shall be in favour only of agriculturist eligible to hold land under the Bombay Tenancy and Agricultural Lands Act 1948, or airy corresponding law for the time being in force, [or in favour of Tribals, if such property belongs to a Tribal] [These words were inserted by Maharashtra 5 of 1990, Section 14(a).] or may by lease out by them on such terms and conditions as may be laid down by the State Government from time to time.[Explanation. - For the purposes of this sub-section and section 133A; 'Tribal' means a person belonging to a Scheduled Tribe within the meaning of the Explanation to section 36 of the Maharashtra Land Revenue Code, 1966, and includes his successor in interest.] [This Explanation was added by Maharashtra 5 of 1990, Section 14(b).]
