Nomination / heirs नामनिर्देशन / वारस • नामांकन / वारिस
7 related bye-laws. Tap any one to read its summary.
Bye-law No. 31: Nomination
A member or associate member may nominate one or more persons in the prescribed form (Appendix 14) to receive the shares and interest on death. The Secretary's acknowledgement is acceptance. The first nomination is free; every later change or revocation costs Rs. 100.
Bye-law No. 32: Recording of nomination
Nominations and revocations are placed before the next Committee meeting, recorded in the minutes and entered in the Nomination Register within 7 days.
Bye-law No. 33: Transfer to nominee on death
On a member's death the Society transfers the shares and interest to the nominee(s). Nominees must apply for membership within 6 months. Multiple nominees apply jointly naming who becomes member; others become associate members. An indemnity bond is required. Note: membership through nomination is held in trust until all legal heirs are on record – no ownership right and no third-party interest may be created.
Bye-law No. 34: Transfer to heirs where no nomination
If there is no nomination or no nominee comes forward, the Society invites claims/objections within 6 months by notice on the board and in 2 newspapers (cost recovered from the deceased's share). After inquiry the Committee decides the heir, who gives an indemnity bond. If claimants disagree, a succession certificate from court is required. If no claimant, the interest vests in the Society.
Bye-law No. 35: Payment of value to nominee
If nominees ask for payment instead of membership, the Society acquires the interest and pays them in the proportion stated in the nomination, or equally if none stated.
Bye-law No. 36: Payment of value to heirs
If there is one heir, payment is made after an indemnity bond; if several heirs, in equal shares after a joint indemnity bond.
Bye-law No. 159: Insurance, disaster plan, child labour and widows
Insuring the building against natural calamities, fire, flood, earthquake and third-party liability is mandatory. The Committee prepares an emergency plan (risks, response agencies, emergency numbers), discusses it at the general meeting and displays it. Employing child labour is an offence (1 year jail / Rs. 20,000 fine) — awareness must be created. Before transferring a deceased member's flat, verify nomination, succession certificate or probated will so no injustice is done to a widow.