- Every Primary [Agriculture and Rural] [Substituted by section 5 of the Tamil Nadu Co-operative Societies (Amendment) Act, 1999 (Tamil Nadu Act 50 of 1999) which came into force on the 15th December 1999.] Development Bank shall, before advancing any loan on the security of any immovable property, verify encumbrances, if any, for -

(i) a period of thirteen years immediately preceding the date of application for such loan; and

(ii) a further period on and from the date of such application up to four months from the date of execution of the mortgage.