Section 129: Payment to survivors of joint payees.

The New Delhi Municipal Council Act, 1994Central Act · Act 44 of 1994

When any debenture or security issued under this Act is payable to two or more persons jointly, and either or any of them dies, then, notwithstanding anything in section 45 of the Indian Contract Act, 1872 (9 of 1872), the debenture or security shall be payable to the survivor or survivors of such person:

Provided that nothing in this section shall affect any claim by legal representative of a deceased person against such survivor or survivors.

Where this provision sits

Act	The New Delhi Municipal Council Act, 1994
Section	129
Marginal note	Payment to survivors of joint payees.
Jurisdiction	Central
Status	In force as published by the source

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