State Act
159
Section 159. Receipt by joint holder for interest or dividend.
THE KARNATAKA MUNICIPAL CORPORATIONS ACT, 1976.
Act no. 14 of 19771977In forceKarnataka (State Act)
159. Receipt by joint holder for interest or dividend.- When two or more persons are joint holders of any debenture or security issued under this Act, any one 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.