Section 5 in The Bihar Displaced Persons (Rehabilitation Loans) Act, 1953
5. Execution of loan bond.
- Before receiving payment of the loan, the borrower shall execute a bond with two sureties in the prescribed form, undertaking to apply the amount of loan solely for the purpose for which, and to comply with the terms and conditions on which, the loan is sanctioned and the borrower and the sureties shall be jointly and severally liable for the repayment of the loan and such bond shall include any sum referred to in sub-section(4) of Section 4.
