Section 130(1) in The Manipur Co-operative Societies Act, 1976
(1)Property purchased under Section 122 (3) by, and properly transferred under Section 100 to the land development banks may be disposed of by such banks by sale within such period as may be fixed by the Trustee, subject to the condition that such sale shall be in favour only of agriculturists eligible to hold land under the Manipur Land Revenue and Land Reforms Act, 1950 or any corresponding law for the time being in force, or may be leased out by them on such terms and conditions as may be laid down by the State Government from time to time.
