Section 106(2) in Karnataka Land Reforms Act, 1961
(2)In respect of lands held by such institution and vesting in the State Government under the provisions of this Act the amount payable shall be an annuity to be paid so long as the institution exists, of a sum equal to the net annual income referred to in sub-section (2) of section 72. Towards the annuity so payable, the State Government shall issue a non-transferable and non-negotiable annuity bond.
