Amendment status not verified — confirm the current text below against the official source.
The valuation of immovable property to be pledged as security to a co-operative society shall be valued by an officer/officers authorised by the Committee in cases where the loan amount is below ten lakhs and where the loan amount exceeds ten lakhs, by a panel of five members consisting of two officers including the Chief Executive Officer of the society and two members of the Committee and an independent valuer authorised by the Committee.] Inserted by Act 9 of 2024 published in K.G.Ext. No.1829 dt. 07/06/2024 (w.e.f. 07/06/2024).