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Home Cooperative Queries

CHS: Nominee and Share Transfer

Ajay Jha by Ajay Jha
November 25, 2013
in Cooperative Queries
1176
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Kushal Saha

My mother died making my siblings (three including me) as Nominee in a plain paper application addressed to the Secretary of CHS, located in West Bengal.Now, the CHS does not want to transfer share to three of us. They insist on transferring the share/apartment to only one amongst us.

Is this legally tenable under CHS law?

If yes, then how do we execute this transfer?

What will be the method by which two us would give up their share for the benefit of third sibling?

I’ll be obliged if you respond to my above queries.

I C Naik

Section 76 of the W B Cooperative Societies Act 2006 requires every society to dispose off the share and interests of the deceased member to nominee appointed by the member subject to the provisions of the Bye Laws of the society.

You need to ask for a copy of the Bye Laws which your society is bound to provide you against costs. one can hold a definite view after seeing the concerned bye law.

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