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Section 10: Renewal of promissory notes.

The Government Securities Act, 1330 Fasli.State Act of Telangana

Subject to the provisions of section 11, a person claiming to be entitled to a Government promissory note may, on applying to the prescribed authority and on satisfying him of the justice of his claim and delivering to him the promissory note received in the prescribed manner, and paying the prescribed fee, if any, obtain from such authority a renewed promissory note payable to him:

Provided that when application is made for the renewal of a Government promissory note which appears to the prescribed authority to stand in the name of a deceased member of a Hindu undivided family governed by the Mitakshara law, a renewed promissory note shall not be issued to the applicant, unless he produces a certificate from the prescribed authority and after such enquiry as may be prescribed to the effect that the deceased was a member of a Hindu undivided family governed by the Mitakshara law, that the promissory note formed part of the joint property of the family and that the applicant is the kartha i.e., manager or the sole surviving male member of the family.

Where this provision sits

ActThe Government Securities Act, 1330 Fasli.
Section10
Marginal noteRenewal of promissory notes.
JurisdictionState of Telangana
StatusIn force as published by the source

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