Cap. 12 Art. 424Hypothecary security in lieu of surety.

Where the payment out is demanded by a government department, or any administration thereof, or by any pious institution or foundation, or any other body corporate, which can offer sufficient security on immovable property, the hypothecation of such immovable property made by a person lawfully authorised for the purpose, may be allowed in lieu of the surety referred to in the last preceding article.