Amendment status not verified — confirm the current text below against the official source.
If any money-lender is desirous of obtaining security from any person employed by him, during the period of his employment in connection with the business of money-lending such security shall be taken only in any of the following form, namely:-- (a) deposit of the amount in any treasury, nationalised bank, post office or co-operative bank; or (b) Government securities or National Savings Certificates, or (c) mortgage of immovable property; or (d) personal sureties: Provided that if any security has already been received by the money lender from any of his employees in any form other than those enumerated above, such security shall be converted into any of the forms under items (a) to (d), within three months from the date of commencement the Kerala Money-Lenders (Amendment) Ordinance, 1987.