Section 32 in Tamil Nadu State Housing Board Act, 1961
32. Agreements and security deposits.
(1)Every contract shall be made on behalf of the Board by the Chairman.(2)The Chairman shall take sufficient security deposit for the due performance of the contract.(3)Written agreements shall be executed for all contracts, the value of which exceeds five hundred rupees.(4)Every contract made by the Chairman, the value of which exceeds ten thousand rupees, shall be reported to the Board at its next meeting.
