Section 120(1) in The Bombay Provincial Municipal Corporations Act, 1949
(1)when any debenture or security issued under this Act is payable to two or more persons jointly, and either or any of them dies, the debenture or security shall be payable to the survivor or survivors of such person:Provided that nothing in this sub-section shall affect any claim by the legal representative of a deceased person against such survivor or survivors;
