Section 31A in Maharashtra Public Trust Rules, 1951
31A. [ Conditions and restrictions subject to which Committee shall deal with properties of endowments. [Inserted by Notification No. 24718/P, dated 14th September, 1964.]
(1)A committee shall hold that properties of an endowment which is transferred to it under section 56 D for the objects of the endowment.(2)A committee shall not sell, mortgage or exchange any immovable property vesting in the members of the committee or lease it our (in the case of agricultural land for a period exceeding ten years; and in any other case, for a period exceeding three years) or otherwise dispose it of unless such sale, mortgage, exchange, lease or disposal -(a)is for the benefit of the endowment or other justifiable cause,(b)is duly sanctioned by a resolution of the committee passed in that behalf and the description of the property and the reasons for sanctioning such disposal of property are stated in the resolution, and(c)is made where necessary, with the previous sanction of the Charity Commissioner as required by section 36.(3)Where an endowment consists of jewelry, or other movable property of a nonperishable nature exceeding one thousand rupees in value, the committee shall not sell, pledge or otherwise dispose it of without the previous approval of the Charity Commissioner.]
