Tuesday, 28 August 2018

After death of Member, What Nominee should do

1. Nominee/s should submit an application for membership within 6 months of the death of the member.

2. If there is more than one nominee, such nominees shall make a joint application to the society and indicate the name of the nominee who should be enrolled as a member.

3. The other nominees shall be enrolled as associate members.

4. In case only one nominee is indicated by the nominees for membership of the society, the nominees shall also file an indemnity bond in the prescribed form indemnifying the society against any claims made to the shares and interest of the deceased member in the capital/property of the society by any of them upon transfer of shares and interest of the deceased member in the capital/property of the Society to the nominee.


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