Section 17
Section 17
(1)
On the death of a member, a registered society may transfer the share or interest of such member —
(a)
in the case of a deceased member who was a Muslim, to the legal representative of such member or to such person as may appear to the committee members to be a person entitled to such share or interest pursuant to any distribution made under any law relating to the distribution of estates;
Co-operative Societies 16
(b)
in the case of a deceased member who was not a Muslim, to the person nominated in accordance with the rules on his behalf or, if there is no such person so nominated, to such person as may appear to the committee members to be the successor or legal representative of such member, or may pay to such person, successor or legal representative, as the case may be, a sum representing the value of the deceased member’s share or interest, as ascertained in accordance with the rules or its by-laws.
(2)
If the deceased member was not a Muslim, and the successor or legal representative is not qualified for membership in accordance with this
Act, the rules or the by-laws, the registered society may, on the application of the successor or legal representative within 6 months of the death of the member, transfer his share or interest to any person specified in the application who is so qualified.
(3)
Notwithstanding subsection (1), if 6 months have elapsed since the death of a member who was a Muslim and —
(a)
the registered society is unable to ascertain who is the legal representative of the member;
(b)
no legal representative has been appointed or the estate of the member has not been distributed; or
(c)
the estate of such member has been distributed but the registered society is unable to ascertain who is the person entitled to such share or interest pursuant to the distribution, the registered society may pay to the Probate Officer a sum representing the value of the share or interest of such member, as ascertained in accordance with the rules or its by-laws.
(4)
A registered society may pay all other moneys due to a deceased member from the registered society to the legal representative, Probate
Officer, successor or other person, as the case may be, referred to in subsection (1) or (3).
Deposits by or on behalf of minors.