Section 19 in Orissa State Financial Corporation General Regulations, 1957
19. Corporation's lien on shares.
- The corporation shall have a first lien upon all shares registered in the name of each shareholder and upon the proceedings of sale thereof for his debts, liabilities and engagements solely or jointly with any other persons to or with the Corporation whether the period for the payment, fulfilment or discharge thereof shall have actually arrived or not and such lien shall extend to all dividends from time to time declared in respect of such share. Unless otherwise agreed the registration of a transfer of shares shall operate as a waiver of the Corporation's lien, if any, on such share.
