Amendment status not verified — confirm the current text below against the official source.
Other guarantees by State Government :– Where the 3[State Co-operative Agricultural and Rural Development Bank] or a 3[Co-operative Agricultural and Rural Development Bank] has given a loan to a member for the development of any land in excess of the amount of the loan to which such member would be entitled on the basis of the value of the land as determined in accordance with the principles of valuation approved by the State Govern- ment, the State Government may, if they think fit, guarantee for a specified period the repayment of the loan to the extent of the excess. 1[85. Priority of mortgage over certain claims :– (1) Notwithstanding anything contained in any law for the time being in force but subject to any claim of the Government in respect of land revenue or any money recoverable as arrears of land revenue and to the provisions of Sub-Section (2), any debt or outstanding demand due to the 2[State Co-operative Agricultural and Rural Development Bank] or any 2[Co-operative Agricultural and Rural Development Bank] on account of a mortgage executed by any member or past or deceased member in favour of such bank shall be a first charge upon the land so mort- gaged. (2) Any such mortgage as aforesaid shall also have priority over any claim of the Government arising from a loan under the Land Improvement Loans Act, 1883 (19 of 1883) or the Agriculturists Loans Act, 1884 (12 of 1884), granted after the execution of the mortgage.