Life Insurance Corporation Act : Establishment and incorporation of Life Insurance Corporation

Life Insurance Corporation Act,1956

Act No : 31

Section : Establishment and incorporation of Life Insurance Corporation ofIndia.

3. Establishment and incorporation of Life Insurance Corporation of India. (1) With effect from such date 1* 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.