Section 41 in Himachal Pradesh Co-operative Agriculture and Rural Development Banks Act, 1979
41. [ Priority of gehan, mortgage and hypothecation. [Section 41 substituted vide Act No. 16 of 1987 w.e.f. 16-11-1987.]
- Any amount payable under a Gehan created or mortgage or hypothecation executed in favour of the Agriculture and Rural Development Bank shall have priority over any claim of the Government arising from a loan under the Land Improvement Loans Act, 1883 (19 of 1883) or any other law for the time being in force in the State , granted after the creation of the gehan or the execution of the mortgage or hypothecation].
