LawgistThe New Delhi Municipal Council Act
130Receipt by joint holders 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 Council by the other of such persons.
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BORROWING
- 126 Power of Council to borrow
- 127 Time for repayment of money borrowed under section 126
- 128 Form and effect of debenture
- 129 Payment to survivors of joint payees
- 130 Receipt by joint holders for interest or dividend
- 131 Maintenance and investment of sinking funds
- 132 Application of sinking funds
- 133 Annual statement by Chairperson
- 134 Power of Council to consolidate loans
- 135 Priority of payment for interest and repayment of loans over other payments
- 136 Power to make regulations
