law: 187. Payment to survivors of joint payees.
  When any debenture or security issued under this Act is payable to two or more persons jointly, and either or any of them dies, then notwithstanding anything in section 45 of the Indian Contract Act, 1872 (9 of 1872), the debenture or security shall be payable to the survivor or survivors of such person :
  Provided that nothing in this section shall affect any claim by the legal representative of a deceased person against such survivor or survivors.