Section 49(2) in Andhra Pradesh Panchayat Raj Act, 1994
(2)When the management of any institution is transferred to the Gram Panchayat under sub-Section (1), all property, endowments and funds belonging thereto, shall be held by the Gram Panchayat in trust for the purposes to which such property, endowments and funds were lawfully applicable at the time of such transfer.
