Section 50
Liability as guarantor.
About this Act
An Act to provide for the formation of the State of Andhra, the increasing of the area of the State of Mysore and the diminishing of the area of the State of Madras, and for matters connected therewith.
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, 1932 (6 of 1932) and 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.