Chwilio Deddfwriaeth

Conveyancing and Feudal Reform (Scotland) Act 1970

 Help about what version

Pa Fersiwn

 Help about advanced features

Nodweddion Uwch

 Help about opening options

Dewisiadau AgorExpand opening options

Changes over time for: Paragraph 5

 Help about opening options

Alternative versions:

Status:

Point in time view as at 01/02/1991.

Changes to legislation:

Conveyancing and Feudal Reform (Scotland) Act 1970, Paragraph 5 is up to date with all changes known to be in force on or before 10 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

Insurance.S

5It shall be an obligation on the debtor—

(a)to insure the security subjects or, at the option of the creditor, to permit the creditor to insure the security subjects in the names of the creditor and the debtor to the extent of the market value thereof against the risk of fire and such other risks as the creditor may reasonably require;

(b)to deposit any policy of insurance effected by the debtor for the aforesaid purpose with the creditor;

(c)to pay any premium due in respect of any such policy, and, where the creditor so requests, to exhibit a receipt therefor not later than the fourteenth day after the renewal date of the policy;

(d)to intimate to the creditor, within fourteen days of the occurrence, any occurrence which may give rise to a claim under the policy, and to authorise the creditor to negotiate the settlement of the claim;

(e)without prejudice to any obligation to the contrary enforceable against him, to comply with any reasonable requirement of the creditor as to the application of any sum received in respect of such a claim;

(f)to refrain from any act or omission which would invalidate the policy.

Yn ôl i’r brig

Options/Help

You have chosen to open y Ddeddf Gyfan

Y Ddeddf Gyfan you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?