Section 130(2)(ii) in Transfer of Property Act, 1977

[Cites 0, Cited by 0] [Section 130(2)] [Section 130] [Entire Act]

State of Jammu-Kashmir - Subsection

Section 130(2)(ii) in Transfer of Property Act, 1977

(ii)A effects a policy on his own life with an Insurance Company and assigns it to a Bank for securing the payment of an existing or future debt. If A dies, the Bank is entitled to receive the amount of the policy and to sue on it without the concurrence of A's executor, subject to the proviso in sub-section (1) of section 130 and to the provisions of section 132.

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State of Jammu-Kashmir - Subsection

Section 130(2)(ii) in Transfer of Property Act, 1977