Section 14 in Jammu and Kashmir Co-operative Societies Rules, 2001
14. Nomination of an heir
(1)A member of a Co-operative Society may nominate a person or persons to whom in the event of his death, his share or interest in the capital of the society shall be transferred to or the value thereof or any other money due to him from the society shall be paid, such member may, form time to time, revoke or vary such nomination.(2)The number of persons who may be nominated as members shall not exceed the number of shares held by the member.(3)When a member nominates more than one person in respect of any share held by him, he shall as for as practicable, specify the amount to be paid or transferred to each nominee in terms of a whole share.(4)A nomination made by a member under this rule shall not be valid and shall not, in the event of the death of the member have effect unless:(a)it is made in writing and is signed by the member in the presence of at least two witnesses; and(b)it is registered in the books of the society kept for the purpose.
