Section 16B(1) in State Bank of India General Regulations, 1955
(1)On the death of the shareholder or on death of all the joint holders, as the case may be, any person who is entitled to the shares by virtue of a valid nomination, upon the production of such evidence as may be required by the Central Board or its Executive Committee and subject as hereinafter provided, elect, either -(a)to be registered himself as holder of the share; or(b)to make transfer of the share as the deceased shareholder could have made.
