(1)Upon the publication of the declaration under sub-section (6) of section 37A by the Collector all the assets and liabilities of the Gram Sabha shall vest in the State Government and all dues payable or receivable by the Gram Sabha will be deemed to be payable to or receivable by the State Government.(2)All dues payable to the Gram Sabha before such declaration will be recoverable by the State Government as arrears of land revenue.(3)For purposes of ensuring that all the assets and liabilities, as well as dues payable to or receivable by the Gram Sabha are properly accounted for and all the assets and relevant documents are fully transferred to the State Government by the Gram Sabha, the Sub-Divisional Officer having jurisdiction over the village shall act as liquidator.(4)The President of Gram Sabha and members of executive committee and other committees shall forthwith hand over charge in the prescribed manner of his or their office including all papers, documents and properties pertaining to the Gram Sabha in his or their actual possession or occupation to the liquidator.(5)If any person fails or refuses to hand over charge of office including the papers, documents and properties as required under sub-section (4), the liquidator shall, by order in writing, direct the person so failing or refusing to hand over such charge to the liquidator or to the person authorised by him.(6)If the person to whom a direction has been issued under subsection (5) fails to comply with the directions, he shall, on conviction, be punishable with imprisonment for a term not exceeding one year or with fine not exceeding one thousand rupees or with both.(7)The liquidator may, without prejudice to any action that has been or may be taken under sub-section (5) or sub-section (6), for that purpose, invoke in the prescribed manner the assistance of the police or the nearest Magistrate having jurisdiction.(8)The liabilities of the defunct Gram Sabha shall first be discharged by the liquidator by the sale of land which had remained in the land pool of Gram Sabha and which was not allotted by it.(9)If all land of Gram Sabha pool has been allotted by the defunct Gram Sabha or if such land is not sufficient to discharge the liabilities, the pay and allowances of staff of such Gram Sabha shall be paid by charging ratable contribution from the Gramdan Kisan who have opted out from the Gramdan Community under the provisions of this Chapter.(10)Liabilities incurred by individual Gramdan Kisans or other individual residents of the village prior to the issue of declaration by the Collector under sub-section (6) of section 37A shall continue to be their liability and shall be charged on the land held by them.
