Section 255
Special provision with respect to sums payable on demand
of National Land Code (Revised - 2020)
ActIn forceProvision 246 of 391
Section 255
(1)
Where the principal sum secured by any charge is payable by the chargor on demand, the chargee may make the demand by a notice in Form 16e, and in that event, if the sum in question is not paid to him within one month of the date on which the notice is served, may apply forthwith for an order for sale without being required to serve a notice in Form 16d under subsection 254(1).
(2)
Subsection 254(2) shall apply to notices in Form 16e as they apply to notices in Form 16d.
Procedure—Registry Title, Qualified Title
Corresponding Thereto, and Subsidiary Title