Section 42 in The Assam State Co-operative Agriculture and Rural Development Bank Limited
42. Loans to be advance on Assignment of mortgages.
- No loan shall be advanced by the Bank unless the applicant agrees to assign one or more mortgages, as may be necessary to cover the loan of immovable properties of which the mortgages have transferable interest in such properties and which are not subject to any restriction on alienation or to proper encumbrances save the mortgages in favour of the Bank.
