Section 40(1) in Mizoram Cooperative Societies Act, 2006
(1)Any co-operative on the death of its member shall, transfer the share or interest of such deceased member to the person(s) nominated to receive such share or interest, as per the provisions of the Act, rules or bye-laws and such member if, failed to nominate any person, the co-operative in such cases may transfer such share or interest in co-operative to the legal heir or representative of such deceased member.
