Section 40 in The U.P. Co-operative Societies Rules, 1968
40.
If two or more persons have jointly inherited the share or interest in the shares of a deceased member of a society, such person may be admitted to the ordinary membership of the society. As regards voting right in respect of the share or shares, such person shall by declaration nominate any one from amongst themselves to exercise the right of voting under Section 20, whereupon the society shall enter in the share certificate the name of such persons so as to head the name of the joint shareholders;Explanation. - (i) Though the voting right shall be enjoyed only by the person so mentioned in the declaration and the share certificate, but all the liabilities shall be borne by all of them jointly and severally as provided under the Act, rules and the bye-laws of the society.(ii)This rule will apply only so long as the share or shares are held jointly.
