Amendment status not verified — confirm the current text below against the official source.
Mortgages executed in favour of Land Development Bank to stand vested in Trustee. - The mortgages executed in favour of and all other assets transferred to the State Co-operative Land Development Bank by its members, either before or after the commencement of the Bihar Co-operative Societies (Amendment) Ordinance, 1975 shall vest in the Trustee with effect from the date of such execution or transfer and likewise mortgages or transfer of assets in favour of Primary Co-operative Land Development Bank by its members shall be deemed to have been transferred to the State Co- operative Land Development Bank and shall vest in the Trustee.