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[Cites 0, Cited by 0] [Section 40] [Entire Act]

State of Chattisgarh - Subsection

Section 40(1) in The Chhattisgarh Co-Operative Societies Act, 1960

(1)Notwithstanding anything contained in any law for the time being in force, but subject to any prior claim of the State Government in respect of land revenue or any money recoverable as arrears of land revenue and to any claim of a development bank arising out of a loan granted at any time whatsoever under the Chhattisgarh Sahkari Bhoomi Vikas Bank Adhiniyam, 1966 (28 of 1966), any debt or outstanding demand owing to a society by any member or past member or deceased member, shall be a first charge upon the crops and other movable property belonging to such member, past member or forming part of the estate of the deceased member, as the case may be :Provided that where any prior claim of the State Government arises out of a loan granted under the Land Improvement Loans Act, 1883 (XIX of 1883) or the Agriculturists Loans Act, 1884 (XII of 1884) and such loan is granted after the grant of loan by a society the loan granted by the society shall, notwithstanding anything contained in the said enactments, have priority over such claim of the Government.