Section 20 in Himachal Pradesh Co-Operative Societies Rules, 1971
20. Nomination.
(1)Every member of a society shall nominate a person, or persons, to whom his share, or interest, referred to in section 23 of the Act, or such sums out of such interest as may be specified by the member, shall, on the death of the member, be transferred or paid as laid down in the bye-laws.(2)Such nomination may from time to time, be revoked or modified by the member.(3)The number of persons who may be nominated by a member shall not exceed the number of shares held by the member.(4)When a member of a society nominates more than one persons, he shall, as far as practicable, specify the amount to be paid or transferred to each nominee in terms of whole shares, and the interest accruing thereon.(5)The record of nominations shall be kept by a society in such manner as may be laid down in the bye-laws.(6)[ the Secretary of the society shall inform the fact of nomination along with factual position of assets and liabilities of the deceased member.] [Inserted vide notification No.Coop. A(3)-1/99-Vol.-I dated 25-7-2006 published in Rajpatra dated 27-7-06.]
