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Section 3 – The State Financial Corporation Act,1951

<h2The State Financial Corporation Act,1951

Section 3. Establishment of State Financial Corporations

(1) The State Government may, by notification in the Official Gazette, establish a Financial Corporation for the State under such name as may be specified in the notification.

(2) The Financial Corporation shall be a body corporate by the name notification under sub-section (1), having perpetual succession and a common seal, with power, subject to the provisions of this Act, to acquire and to hold property and stall, by the said name sue and be sued.

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The State Financial Corporation Act,1951

Indian Laws – Bare Acts


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