Section 141(1) in The Maharashtra Co-Operative Societies Act, 1960
(1)It shall be competent for the State Government to constitute one or more Guarantee Funds on such terms and conditions as it may deem fit, for the purpose of meeting losses that might arise as a result of loans being made by the [Co-operative Agriculture and Rural Multipurpose Development Bank] [These words were substituted for the words 'State Agriculture and Rural Development Bank', 'Agriculture and Rural Development Bank' and 'an Agriculture and Rural Development Bank' by Maharashtra 41 of 2005, (w.e.f. 25-8-2005), Section 8.] on titles to immovable property subsequently found to be defective or for any other purpose under this Chapter for or create a separate Guarantee Fund.
