THE JAMMU AND KASHMIR MUNICIPAL CORPORATION ACT, 2000
Section 147. Receipt by joint holders for the interest or dividend.
When two or more persons are joint holders of any debenture or security issued under this Act, any one of such persons may give an effectual receipt for any interest or dividend payable in respect of such debentures or security, unless notice to the contrary has been given to the Corporation by the other persons.
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