Amendment status not verified — confirm the current text below against the official source.
Officers or members of family not to bid at auction sale.- At any sale of moveable or immovable property, held under the provisions of this Chapter, no officer or employee or any member of the family of such officer or employee of an Agriculture and Rural Development Bank, except on behalf of the bank of which he is an officer or any employee, and no person having any duty to perform in connection with such sale, shall either directly or indirectly bid for or acquire or attempt to acquire any interest in such property. Explanation - For the purposes of this section, the expression "member of the family" means wife, husband, father, mother, brother, sister, son, daughter, son-in-law or daughter-in-law.