THE AGRICULTURISTS' LOANS ACT, 1884

ACT No.12 OF 1884

[AS ON 1955]
{It has been amended in -
C..and !e"a" b# C..$ !e"a" A%ts &4 o' 194( and 54 o' 1949)
Coo"* b# Coo"* A%t & o' 19&+)
,ad"as b# ,ad"as A%t 1+ o' 19&5)
O"issa b# O"issa A%t + o' 19&() and
-. b# -..A%ts 12 o' 1922. 12 o' 19&4 and 12 o' 1948./
An A%t to amend and 0"o1ide 'o" the e2tension o' the No"the"n India Ta33a1i A%t. 18(9.
[24th 456#. 1884.]
789:9AS it is e20edient to amend the No"the"n India Ta33a1i A%t. 18(9. and 0"o1ide 'o" its
e2tension to {S5bs.b# the A.O.1948. 'o" ;an# 0a"t o' !"itish India;./ [othe" {S5bs.b# the A.O.195<.
'o" 0"o1in%es o' India ;./ [a"t A States o" a"t C States] ]) It is he"eb# ena%ted as 'o66o=s>---
?"eamb6e.@
1.Short title:- ?1@ This A%t ma# be %a66ed the A*"i%56t5"istsA Boans A%t. 1884) and
?2@ It sha66 %ome into 'o"%e on the 'i"st da# o' A5*5st . 1884.?Commen%ement.@
2.Locl e!te"t :- ?1@ This se%tion and se%tion & e2tend to the =ho6e o' India e2%e0t a"t ! States.
?2@ The "est o' this A%t e2tends in the 'i"st instan%e on6# to{S5bs.b# the A.O.1948. 'o" o"i*ina6
=o"ds./ [!omba#. -tta" "adesh . 5nCab. the Cent"a6 . "o1in%es . Assam . De6hi and ACme"-
,e"=a"a.]
?&@ !5t an# State Eo1e"nment ma#. '"om time to time. b# noti'i%ation in the O''i%ia6 EaFette.
e2tend the "est o' this A%t to the =ho6e o" an# 0a"t o' the te""ito"ies 5nde" its administ"ation.
&.[ :e0ea6 o' A%t G o' 18(9. and se%tions 4 and 5 o' A%t GH o' 188<.] :e0.b# the :e0ea6in* A%t.
19&8 ?1 o' 19&8@. s.2 and S%h.
4.#o$er %or Stte Go&er"'e"t to '(e r)le* :-?1@ State Eo1e"nment {Ins.b# the A%t 4 o' 1914.
s.2 and S%h.t.I./ [o". in a State 'o" =hi%h the"e is a !oa"d o' :e1en5e o" Finan%ia6 Commissione".
s5%h !oa"d o" Finan%ia6 Commissione". S5bCe%t to the %ont"o6 o' the State Eo1e"nment] ma#. '"om
time to time. {The =o"ds ;s5bCe%t to the %ont"o6 o' the E.E.in C.; "e0.ibid./ ma3e "56es as to 6oans
to be made to o=ne"s and o%%50ie"s o' a"ab6e 6and. 'o" the "e6ie' o' dist"ess. the 05"%hase o' seed
o" %att6e. o" an# othe" 05"0ose not s0e%i'ied in.the Band Im0"o1ement Boans A%t. 188&. b5t
%onne%ted =ith a*"i%56t5"a6 obCe%ts.
?2@ A66 s5%h "56es sha66 be 05b6ished in the O''i%ia6 EaFette.
+.Reco&er, o% lo"* :- 91e"# 6oan made in a%%o"dan%e =ith s5%h "56es. a66 inte"est ?I' an#@
%ha"*eab6e the"eon. and %osts ?i' an#@ in%5""ed in ma3in* o" "e%o1e"in* the same. sha66. =hen
the# be%ome d5e. be "e%o1e"ab6e '"om the 0e"son to =hom the 6oan and made. o" '"om an#
0e"son =ho has be%ome s5"et# 'o" the "e0a#ment the"eo'. as i' the# =e"e a""ea"s o' 6and-"e1en5e
o" %osts in%5""ed in "e%o1e"in* the same d5e b# the 0e"son to =hom the 6oan =as made o" b# his
s5"et#.
-.Li.ilit, o% /oi"t :- bo""o=e"s as amon* themse61es >-7hen a 6oan is made 5nde" this A%t. to
the membe"s o' a 1i66a*e %omm5nit# o" to an# othe" 0e"sons s5%h te"ms that a66 o' them a"e Coint6#
and se1e"a66# bo5nd to the Eo1e"nment 'o" the 0a#ment o' the =ho6e amo5nt 0a#ab6e in "es0e%t
the"eo'. and a statement sho=in* the 0o"tion o' that amo5nt =hi%h as amon* themse61es ea%h is
bo5nd to %ont"ib5te is ente"ed 50on the o"de" *"antin* the 6oan and is si*ned . ma"3ed. o" sea6ed
b# ea%h o' them o" his a*ent d56# a5tho"iFed in this beha6' and b# the o''i%e" ma3in* the o"de".
that statement sha66 be %on%65si1e e1iden%e o' the 0o"tion o' that amo5nt =hi%h as amon*
themse61es ea%h o' those 0e"sons is bo5nd to %ont"ib5te.