Section 7(2) in The Karnataka Agricultural Credit Operations and Miscellaneous Provisions Act, 1974.
(2)Where different charges or mortgages over the same land or any interest therein have been created or executed by an agriculturist in favour of,-(i)the State Government; or(ii)a co-operative society; or(iii)one or more credit agency,such charges or mortgage out of them as is created or executed as security for the financial assistance given as term loan for development purposes shall have priority over the other charges or mortgages:Provided that prior notice thereof had been given to, and concurrence had been obtained of the State Government or the co-operative society or the credit agency, as the case may be.
