Section 11(2) in Goa (Grant of advance to Member of the Legislative Assembly for purchase of new motor car) Rules, 2005
(2)to execute a document hypothecating the said motor car and also to furnish additional collateral security in the form of assignment of life insurance policy or title deeds of other properties in favour of the Government as security for the amount lent to the Borrower as aforesaid and interest and penal interest, if any, leviable in the form provided by the said Rules. And it is hereby lastly agreed and declared that if the motor car has not been hypothecated as aforesaid within one month from the date of the payment of the said sum or if the Borrower within that period becomes insolvent or ceases to be the Member or dies, the whole amount of the advance and interest and penal interest, if any, leviable, accrued thereon shall immediately become due and payable.In witness whereof the Borrower and ...............................................for and on behalf of the Governor of Goa have hereunto set their hands the day and year first before written.Signed by Shri...............................................................................(Borrower)Witnesses :
