93. Form signature, exchange, transfer and effect of debentures. - (1) Whenever money is borrowed by the Board on debentures, the debentures shall be in such form as the Board, with the previous sanction of the [State Government], may from time to time determine.
(2)All debentures shall be signed by the Chairman and one other Trustee.(3)The holder of any debenture in any form prescribed under subsection (1) may obtain in exchange therefor, upon such terms as the Board may from time to time determine, a debenture in any other form so prescribed.(4)Every debenture issued by the Board shall be transferable by endorsement, unless some other mode of transfer be prescribed therein.(5)The right to sue in respect of moneys secured by debentures issued by the Board shall vest in the respective holders of the debentures for the time being, without any preference by reason of some of such debentures being prior in date to others.Provided that nothing in the section shall affect any claim by the representative of a deceased person against such survivor or survivors.
