(1) Notwithstanding anything contained in any law for the time being in force, but subject to any prior claim of the Government in respect of land revenue or any money recoverable as land revenue,-
(a) any debt or outstanding demand owing to a co-operative society by any member, past member, deceased member, or a person who executed guarantee thereof for repayment of such debt or demand shall be a first charge upon the crops and other agricultural produce, cattle, fodder for cattle, agricultural or industrial implements, or machinery, raw materials for manufacture and any finished products manufactured from such raw materials, or the property or interest in the assets created out of loan/debt, or property mortgaged as security, belonging to such member, past member or the guarantor/surety thereof or forming part of the assets of the deceased member, as the case may be;
(b) any outstanding demands or dues payable, to a co-operative society formed with the object of providing its members with dwelling houses, by any member or past member in respect of rent, shares, loans or purchase money or any other rights or amount payable to such society shall be a first charge upon his interest in the immovable property of the society.
(2) The charge created under sub-section (1) shall be available as against any claim of the Government arising from a loan granted under the Rajasthan Agricultural Loans Act, 1956 (Act No. 1 of 1957) after the grant of the loan by the society.
(3) No person shall transfer or alienate any property which is subject to a charge under sub-section (1) except with the previous permission in writing of the co-operative society which holds the charge and any transfer of property made in contravention of this sub-section shall, notwithstanding anything contained in any other law for the time being in force, be void.
(a) any debt or outstanding demand owing to a co-operative society by any member, past member, deceased member, or a person who executed guarantee thereof for repayment of such debt or demand shall be a first charge upon the crops and other agricultural produce, cattle, fodder for cattle, agricultural or industrial implements, or machinery, raw materials for manufacture and any finished products manufactured from such raw materials, or the property or interest in the assets created out of loan/debt, or property mortgaged as security, belonging to such member, past member or the guarantor/surety thereof or forming part of the assets of the deceased member, as the case may be;
(b) any outstanding demands or dues payable, to a co-operative society formed with the object of providing its members with dwelling houses, by any member or past member in respect of rent, shares, loans or purchase money or any other rights or amount payable to such society shall be a first charge upon his interest in the immovable property of the society.
(2) The charge created under sub-section (1) shall be available as against any claim of the Government arising from a loan granted under the Rajasthan Agricultural Loans Act, 1956 (Act No. 1 of 1957) after the grant of the loan by the society.
(3) No person shall transfer or alienate any property which is subject to a charge under sub-section (1) except with the previous permission in writing of the co-operative society which holds the charge and any transfer of property made in contravention of this sub-section shall, notwithstanding anything contained in any other law for the time being in force, be void.
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Section 1 · Short title, commencement and extentSection 2 · DefinitionsSection 3 · Promotion of Co-operative movementSection 4 · RegistrarSection 5 · Application for registration of co-operative societiesSection 6 · RegistrationSection 7 · Co-operative Societies to be bodies corporate -Section 8 · Bye-lawsIndia Code, Government of India. Text fetched 21 Oct 2026. Source metadata reports last modification: 2024-01-24. Check the linked official text and subsequent notifications when applying a provision.