Section 87A(2) in The Orissa Co-operative Societies Act, 1962
(2)Notwithstanding anything contained in this Act or in the relative mortgage bonds, mortgage executed in favour of a [Co-operative Agricultural and Rural Development Bank] [Substituted by Orissa Act 23 of 1994, Section 5.] in respect of properties situated within the area of operation of another [Co-operative Agricultural and Rural Development Bank] [Substituted by Orissa Act 23 of 1994, Section 5.] newly or subsequently established shall be deemed to be executed in favour of such other bank, and the mortgagor shall be deemed to be a member and debtor of such other bank with effect from the date on which the former bank transfers the amounts due thereon and the shares held by the member to the later bank.
