Section 70(2) in West Bengal Co-operative Societies Act, 2006
(2)If the share or interest of a deceased member cannot be transferred in accordance with the provision of sub-section (1) or if the person to whom such share or interest is payable under that sub-section claims payment of the value of such share of interest or if the Co-operative society in accordance with its by-laws decide to proceed under this sub-section -(a)the share shall be transferred to a person qualified to be a transferee of the share under section 72 on receipt of the value of the share from such person; and(b)the value of the share or the interest of the deceased member determined in accordance with its by-laws shall be paid to the person nominated under section 76 or to the person referred to clause (b) of sub-section (1) of this section after deducting the amount payable under this Act to the Co-operative society from the estate of the deceased member.
