Amendment status not verified — confirm the current text below against the official source.
The karnavan shall keep true and correct accounts of the income and expenditure of the illom. The accounts of each year shall be av~ilable for ins- pection at the illom house by the major anandlavans once in a year throughout the month of Kanni follow- ing such year and any such anandravan may take copies of or extracts from such accounts. '15. (1) No sale or mortgaqe of ary immovable property of an illom a?d no lease of any such property and leases. either for a premium returnable wholly or in part or for a period exceeding twelve years shall be valic', unless it is executed by the karnavan for consideration, f o ~ jllom necessity or benefit, and with the written consem of the majority of the major members of the (2) No lease of any itnmovable property cf an illom in cases not referred lo in sub-section (I) shall be valitl urless it is executed by the karnavan, ?Tamil and where the Malabar Tenarcy Act, 1929, confers Nadul fixity of tenure cn the lessee, unlessalso the written $+or consent of the m~jority of the major members of the 1930. illom, has been obtained to the lease. -. ..- , I This section was substituted for the original section 5 by dection 48 of the Malabar Tenancy (Amendment) Act, 1951 t (Tamil Nadu Act XXXEII of 1911). ..I^*C^-.^I..l....--.--r^ - ---- (3) Nothing ccntained in sub-seclio~ (1) or sub-section (2) shall be deemed to affect the validity of any mortgage or Iezse executed on or before the 27th July 1950 in accordance with the law in force at the time of such execution.]