Section 56 in Assam Co-Operative Societies Act, 2007
56. Transfer of Interest on Death of Member.
- When a member of a registered society dies, his shares and interest in the society shall, subject to the provisions of this Act, be transferred -(a)to the person, if any nominated in accordance with the provision of Section 55; or(b)if there is no such nominee or if the nominee is not available, or is difficult to be ascertained by the managing body, or if for any other cause such transfer cannot be made without unreasonable delay, the transfer of interest on death of a member shall be made to the person as may appear to the managing body to be the legal heir or legal representative of the deceased member, provided that ninety days have elapsed from the date of the member's death and no new claim shall be entertained after the said period of ninety days.
