Section 15 in The Chhatrapati Shivaji Maharaj Vastu Sangrahalaya, Act, 1909
15. Power of one or more joint holders to grant receipt.
- Notwithstanding anything contained in section 45 of the [Indian Contract Act, 1872] [Central Acts.], where two or more persons are joint holders of any debenture or stock certificate issued under the provisions of this Act, any one of those persons may give as effectual receipt for any interest or dividend payable in respect of such debenture or stock certificate, unless notice to the contrary has been given to the Board by any other of those persons.
