Section 3(3) in Tamil Nadu Money-Lenders Act, 1957
(3)(a)Where a money-lender is a registered firm, the licence shall be obtained in the firms name.(b)Where a money-lender is an undivided Hindu family, the licence shall be obtained in the name of the manager or the karnavan or the yajaman, as the case may be, described as such in the licence.(c)Where a money-lender is any other association of individuals, not required to be registered under the Companies Act, 1956 (Central Act 1 of 1956), a separate licence shall be obtained by each such individual in his name describing himself as a member of the association:Provided that nothing contained in this sub-section shall affect the operation of section 59 of the Indian Partnership Act, 1932 (Central Act IX of 1932).
