LIC Act 3Chapter · Establishment of Life Insurance Cororation of India
Section 3 · Establishment and incorporation of Life Insurance Corporation of India
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(1) With effect
from such date as the Central Government may, by notification in the Official Gazette, appoint, there
shall be established a Corporation called the Life Insurance Corporation of India.
(2) The Corporation shall be a body corporate having perpetual succession and a common seal with power subject to the provisions of this Act, to acquire, hold and dispose of property, and may by its name sue and be sued.
(2) The Corporation shall be a body corporate having perpetual succession and a common seal with power subject to the provisions of this Act, to acquire, hold and dispose of property, and may by its name sue and be sued.
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