Andhra State Act : LIABILITY AS GUARANTOR Indian Bare Acts :

Andhra State Act,1953

Act No : 30

Section : LIABILITY AS GUARANTOR

SECTION 50: LIABILITY AS GUARANTOR

If immediately before the appointed day, the State of Madras is liable as guarantor in respect of any liability of a Co-operative Society which is registered under the Madras Co-operative Societies Act, 1932and whose area of operations is limited to the whole or any part of the territories which on the appointed day become the territories of the State of Andhra then as from that day the said liability of the State of Madras in respect of such guarantee shall be a liability of the State of Andhra.