(1) when any debenture or security issued under this Act is payable to two or more persons jointly, and either or any of them dies, the debenture or security shall be payable to the survivor or survivors of such person:
(2) when two or more persons are joint holders of any debentures or security issued under this Act, any of such persons may give an effectual receipt for any interest or dividend payable in respect of such debenture or security unless notice to the contrary has been given to the Corporation by any other of such persons.
Section 120 • The Bombay Provincial Municipal Corporations Act, 1949
120. Debentures issued to two or more persons jointly.
the-bombay-provincial-municipal-corporations-act-1949-sec-120.json
•
Section 120
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"act_title": "The Bombay Provincial Municipal Corporations Act, 1949",
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"number": "120",
"title": "120. Debentures issued to two or more persons jointly.",
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"content": "(1) when any debenture or security issued under this Act is payable to two or more persons jointly, and either or any of them dies, the debenture or security shall be payable to the survivor or survivors of such person:\n(2) when two or more persons are joint holders of any debentures or security issued under this Act, any of such persons may give an effectual receipt for any interest or dividend payable in respect of such debenture or security unless notice to the contrary has been given to the Corporation by any other of such persons.",
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