Section 38 in Andhra Pradesh State Financial Corporation General Regulations, 2004
38. Enforcing lien by sale of shares.
- The Board may, for the purpose of enforcing the lien referred to in Regulation 37 sell the shares subject thereto in such manner as it things fit, but no sale shall be made unless any sum in respect of which the lien exists is presently payable nor until notice in writing of the intention to sell shall have been served on such shareholder or person, if any, entitled for transmission to the shares and default shall have been made by him in payment of the sum presently payable for seven days after such notice.
