Section 4 in The U.P. Agricultural Credit Act, 1973
4. Charge on crop and other movable property in favour of a bank.
(1)It shall be lawful for an agriculturist to create a charge on the movable property owned by him or in the crops raised by him, standing or otherwise, or other produce from land cultivated by him, to the extent of his interest therein in favour of a bank to secure financial assistance from that bank notwithstanding that he may not be owner of the land [on and from which such crop or produce is raised.] [Substituted by U.P. Act 19 of 1975, vide Section 4 (a) (w.e.f. 31-3-1975), for the words "on and from which the crop is raised"](2)Notwithstanding anything to the contrary in [ * * * ] [ The words and figure "Section 39 of", omitted by U.P. Act 19 of 1975, vide Section 4 (b) (w.e.f. 31-3-1975)] the Uttar Pradesh Co-operative Societies Act, 1965 (U.P. Act No. XI of 1966), or any other law for the time being in force, no charge in respect of any debt or other outstanding demand due to a co-operative society from an agriculturist shall have priority over a charge on the crop raised by him, standing or otherwise, or any other movable property in respect of any financial assistance given to him by a bank provided the financial assistance made by the bank is prior in point of time to the debt or demand of the co-operative society.
