Section 34(4) in First Statutes of the Jai Narayan Vyas University Jodhpur
(4)(1) The policy within three months after the first withdrawal from the fund in respect of the policy or in the case of an insurance company whose headquarter is outside India, within such further period as the Registrar, if he is satisfied by the production of the completion Certificate (Interim Receipt) may fix, shall-(a)Unless it is policy express on the face of it to be for the benefit of the wife/husband of the subscriber or of his wife/her husband and children, or any of them, be assigned by an endorsement on the policy in form 1 set forth in the Schedule to the University as security for the payment on any sum which may become payable to the fund by the subscriber under Statutes 34(6), 34(8) and delivered to the Registrar.(b)If it is a policy expressed on face of it to be for the benefit of the wife/husband of the subscriber or of his wife/her husband and children or any of them, be delivered to the Registrar.(c)If the policy is not assigned and delivered, within the said period of three months or such further period as the Registrar may under clause (i) have fixed any amount withdrawn from the fund in respect of the policy shall with interest thereon at the rate as provided under Statute 33(11)(iii) (b), forthwith be paid by the subscriber to the fund or in default be ordered by the Registrar to be recovered by deduction from the emoluments of the subscriber by installments or otherwise as the Vice-Chancellor may direct.
