Amendment status not verified — confirm the current text below against the official source.
(1) Notwithstanding anything in any other law for the time being in force, but subject to any prior claim of Government in respect of any money recoverable as a public demand and to the provisions of sections 60 and 61 of the Code of Civil Procedure, 1908 or the analogous law in force in the State of Arunachal Pradesh. (a) Any debt or outstanding demand, owed to a society by any member or past member or deceased member, shall be a first charge – (i) upon the crops, or other agricultural produce raised in whole or in part whether with or without a loan taken from the society by such member or past member or deceased member. (ii) upon any cattle, fodder for cattle, agricultural or industrial implements or machinery or raw materials for manufacture, or workshop, godown or place of business supplied to or purchased by such member or past member or deceased member, in whole or in part, from any loan whether in money or goods made to him by the society, and (iii) upon any movable property which may have been hypothecated, pledged or otherwise mortgaged by a member with the society and remaining in his custody : (b) any outstanding demands or dues payable to a society by any member or past member or deceased member in respect of rent, shares, loan or purchase money or any other rights or amounts payable to such society shall be a first charge upon his interest in the immovable property of the society. Explanation - The prior claim of Government in respect of dues, other than land revenue, shall be restricted for the purpose of sub-section (1) to the assets created by a member out of the funds in respect of which the Government has claim. (2) No property or interest in property, which is subject to a charge under the foregoing sub-section, shall be transferred in any manner without the previous permission of the society; and such transfer shall be subject to such conditions, if any, as the society may impose. (3) Any transfer made in contravention of sub-section (2) shall be void. Prior claim of society. V of 1908. APCS ACT 1978 22 (4) Notwithstanding anything contained in sub-sections (2) and (3), a society, which has as one of its objects the disposal of the produce of its members may provide in its bye-laws, or may other5wise contract with its members, - (a) That every such member shall dispose of his produce through the society ; and (b) That any member, who is found guilty of a breach of the bye- law or any such contract, shall reimburse the society for any loss, determined in such manner as may be specified in the bye-laws.