Amendment status not verified — confirm the current text below against the official source.
Powers of 1 [Agriculture and Rural Development Bank] 1 where mortgaged property is destroyed or security becomes insufficient.- 1959:KAR.ACT 11] Co-operative Societies 126 Where any property mortgaged to an 1 [Agriculture and Rural Development Bank] 1 is wholly or partially destroyed or the security is rendered insufficient and the mortgagor, having been given a reasonable opportunity by the *board* of the 1 [Agriculture and Rural Development Bank] 1 , of providing further security enough to render the whole security sufficient or of repaying such portion of the loan as may be determined by the *board*, has failed to provide such security or to repay such portion of the loan, the whole of the loan shall be deemed to fall due at once and the *board* shall be entitled to take action against the mortgagor under section 88 or section 89 for the recovery thereof.