Amendment status not verified — confirm the current text below against the official source.
The proceeds of any distraint and sale under section 99 shall be applied as follows:— First, there shall be paid to the co-operative land development bank, central co-operative bank or the primary co-operative credit society, as the case may be, at the prescribed rate— (a) the costs of the sale; and 220 The West Bengal Co-operative Societies Act, 1973. XXXVIII of 1973.] (Chapter XII —Special provisions for co-operative land development bank, central co-operative bank, primary co-operative credit society and apex housing society.—Sections 101-103.) (b) the other expenses incurred on account of the distraint; Secondly, there shall be paid to the bank or the society, as the case may be, the amount for which the distraint was made and there shall be given to the person whose property has been sold a receipt for the amount so paid; and Thirdly, the residue, if any, thereafter remaining shall be delivered to the person whose property has been sold.