title to the money. The right to receive is a personal and not a heritable right. The right is not in the nature ... assignee of the nominee. In my view the respondent No. 2 as the nominee had no right to surrender the policy, and the respondent
amount under the Life Insurance
Policy without confirming any ownership rights in
the nominee or under section 30 of the
Maharashtra Cooperative Societies Act which ... Society without vesting the
ownership rights in the Insurance Policy or the
membership rights in the Society upon such
nominee. The express legislature intent under
nominee does not acquire
any beneficial interest or ownership to the sum in the Provident
Fund Account. The nominee merely gets a right to receive ... legal heirs would acquire rights and such
directions is not varied later on, the right of a nominee cannot
be anything more than being
legal heirs would acquire rights and such directions is not varied later on, the right of a nominee cannot be anything more than being ... amount and the nominee would not get anything. That means during the lifetime of the member, nominee does not acquire any right to receive
conferred by the Act upon the nominee, whether the nominee be a dependant or not, is the 'right to receive' the amount deposited ... vesting in the nominee, when the nominee is a dependant, is therefore quire clear. It confers on the nominee the immediate right to possession
nominee.
(8) Subject as aforesaid, where the nominee, or if there are more
nominees than one, a nominee or nominees, to whom sub-section ... payable to the nominee or nominees does not
mean that the amount shall belong to the nominee or nominees. We
have to bear in mind
transfer or assignment of the rights under a policy, the tenuous
character of the right of a nominee would become more
pronounced. It is difficult ... payable to the nominee or nominees does
not mean that the amount shall belong to the nominee or nominees.
We have to bear in mind
nomination automatically lapses. If the nominee
or where there are nominees more than one all the nominees
die before the policy matures for payment ... transfer or assignment of the rights
under a policy, the tenous character of the right of a
nominee would become more pronounced. It is difficult
vest in the nominee" and has accordingly ruled that the nominee has not merely the right to receive the Fund, but the right ... money to the nominee but proceeds further to provide that the nominee shall stand vested with all the rights of the depositor. In the case
life is insured or where the nominee or, if there are more nominees than one, all the nominees the before the policy matures for payment ... case may be.
(6) Where the nominee or if there are more nominees than one, a nominee or nominees survive the person whose life
