Section 12 in The Assam Agricultural Farming Corporation Rules, 1973
12. Transfer of Shares.
(1)No shares held by any person in a Corporation will be transferred or otherwise disposed of except according to the following provisions.(2)On the death of an agriculturist member, any member of the family of the deceased may undertake to join the Corporation and abide by its terms and conditions and on being admitted to be a member in place of the deceased he may take over the shares of the deceased.(3)If, however, there is a dispute between two or more members of the family of the deceased as to who will join the Corporation, the legal heir of the deceased, nominated under these Rules will be allowed to join.(4)If more than one person is declared as legal heir the deceased member shall be deemed to have been removed from the membership of the Corporation.(5)Until such time any member of the deceased joins the Corporation the Corporation shall manage the land or property allowed for the use of the deceased member directly or may allow the wife or husband, as the case may be, of the deceased to manage the same.(6)If the Corporation so manage the affirms of the property or land allowed for use by the deceased it shall pay to the family of the deceased such sums as may be derived from the sale proceeds of the produce after deducting the cost of cultivation or production.(7)Any unauthorised disposal or transfer of shares shall render the shares liable for forfeiture.
