Section 130(2)(ii) in The Transfer Of Property Act, 1882

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Union of India - Subsection

Section 130(2)(ii) in The Transfer Of Property Act, 1882

(ii)A effects a policy on his own life with an Insurance Company and assigns it to a Bank for securing the payment of an existing or future debt. If A dies, the Bank is entitled to receive the amount of the policy and to sue on it without the concurrence of A’s executor, subject to the proviso in sub-section (1) of section 130 and to provisions of section 132.

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Union of India - Subsection

Section 130(2)(ii) in The Transfer Of Property Act, 1882