50. Mode of executing contracts and transfer of property.
- [(1) Every contract made by or on behalf of the municipality whereof the value or amount exceeds five hundred rupees, shall be in writing and must be signed by two members, of whom the President or Vice-President shall be one, and also the Executive Officer of the Secretary of the municipality, as the case may be.(2)Every transfer of immovable property belonging to any municipality must be made by an instrument in writing executed by the President or Vice-President of the municipality, and Executive Officer or Secretary of the municipality, as the case may be.] [Sub-section (1) and (2) substituted vide Haryana Act No. 3 of 1994.](3)No contract or transfer of the description mentioned in this section executed otherwise than in conformity with the provisions of this section shall be binding on the committee.
