Amendment status not verified — confirm the current text below against the official source.
Liability of joint borrowers as among themselves.- When a loan is made under this Act to two or more persons on such terms and conditions that all of them are jointly and severally bound to the State Government for the payment of the whole amount payable in respect thereof, and a statement showing the portion of that amount which as among themselves each is bound to contribute, is entered upon the order granting the loan and is signed, marked, or sealed by each of them or his agent duly authorised in this behalf and by the officer making the order, that statement shall be conclusive evidence of the portion of that amount which as among themselves each of these persons is bound to contribute.