Bare ActsThe Banking Regulation Act, 1949

Section 45ZD

Notice of claims of other persons regarding articles not receivable.

Amendment status not verified — confirm the current text below against the official source.

1 [45ZD. Notice of claims of other persons regarding articles not receivable.-- No notice of the claim of any person, other than the person or persons in whose name any article is held by a banking company in safe custody, shall be receivable by the banking company, nor shall the banking company be bound by any such notice even though expressly given to it: Provided that where any decree, order, certificate or other authority from a court of competent jurisdiction relating to such article is produced before a banking company, the banking company shall take due note of such decree, order, certificate or other authority.]

Section 45ZD – The Banking Regulation Act, 1949 | DailyLaw.ai