(1)
Notwithstanding anything contained in any law for the time being in force and subject to the prior claim, if any, of the Government in respect of land revenue, arrears of revenue other than land revenue, loans granted and advances made, any debt or outstanding demand due to a registered society from any member or past member or the estate of a deceased member shall be a first charge -
(2)
No property or interest in property which is subject to a charge in favour of a registered society under sub-section (1) shall be sold or otherwise transferred or converted in any manner without the previous written permission of the society.
(3)
A member or a past member or the nominee, heir or legal representative of a deceased member of a registered society shall, if so required by the society, deposit with or entrust to the custody of, the society such property as is subject to a charge under sub-section (1) at such place and in such manner as may be prescribed until the debt or outstanding demand due to the society is fully paid and shall also pay towards all expenses incidental to the removal, transport or maintenance of the property so deposited or entrusted to custody. The charge connected with the removal, transport or maintenance of such property shall be recovered from the member or the past member or the estate of the deceased member, as the case may be, in accordance with such scale as may prescribed.
(4)
Notwithstanding anything contained in any law for the time being in force, any transaction made in contravention of sub-section (2) shall be null and void.
(5)
The charge created by sub-section (1) in favour of a registered society shall be available as against any claim of the Government arising from a loan granted under the Land Improvement Loans Act, 1883 (Central Act XIX of 1883), after the grant of the loan by the society.