Amendment status not verified — confirm the current text below against the official source.
Transfer of interest on death of member.—When a member of a registe society dies his shares and interest in the society shall, subject to the provisions this Act, be transferred— (a) to the person, if any, nominated in accordance with the provision section 23 ; or (b) if there be no such nominee or if the nominee is not available or: difficult to be ascertained by the managing body, or if for any other cause sa transfer cannot be made without unreasonable delay or difficulty, to the persons may appear to the managing body to be the heir or legal representative of ti deceased member; provided that ninety days have elapsed from the date of member’s death. No new claim shall be entertained after the said period of nine days.