Section 140 in The Tripura Co-operative Societies Act, 1974
140. Provision for guarantee funds to meet certain losses.
(1)It shall be competent for the 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 land development bank on titles to immovable property subsequently found to be defective or for any other purpose under this Chapter, for which in the opinion of the Government, it is necessary to provide for or create a separate Guarantee Fund(2)Co-operative land development bank shall contribute to such funds and at such rate as may be prescribed, and the contribution, maintenance and utilisation of such funds shall be governed by such rules as may be made by the Government in this behalf.
