Section 7: Security

The Karnataka Warehouses Rules,1969.State Rules of Karnataka · 1962

Every Warehouseman other than the Corporation referred to in the proviso to clause (b) of sub-section (1) of Section 5, Shall, at the time of application for license either,

(a) furnish to the prescribed Authority , Security deposit in cash or Government securities assessed at the rate of five Rupees for every three cubic meters of storage capacity subject to a minimum of one thousand rupees and execute a bond in Form no.3 for the observance of the conditions and obligations arising out of his business as a Warehouseman or

(b) execute a bond with two sureties to the satisfaction of the prescribed Authority for a like amount.

Where this provision sits

Act	The Karnataka Warehouses Rules,1969.
Section	7
Marginal note	Security
Jurisdiction	State of Karnataka
Status	In force as published by the source

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