Section 14 in The Assam State Co-operative Agriculture and Rural Development Bank Limited
14. Nomination of heirs.
- Every individual member shall nominate a person or persons to whom all of his shares or other interest in the Bank shall be paid or transferred on his death, provided that where more than one person is nominated the extent of each nominee's share-holding shall be specifically stated. A nominee may be admitted as a member without payment of entrance fee. Nomination and revocation of nominee shall be made in writing and shall be deposited with the Bank. Every revocation or variation of the nomination will be effective on payment of Rs. 1/- only.
