Housing Society Bye-laws are the rules and regulations laid down for the proper and peaceful running of the co-operative housing societies. Co-operative society bye-laws are approved by the government authorities and are formed with the intention to help the societies self-regulate themselves.
MODEL BYE-LAWS OF COOPERATIVE HOUSING SOCIETY
VII. MEMBERS, THEIR RIGHTS, RESPONSIBILITIES AND LIABILITIES
II. RIGHTS AND DUTIES OF MEMBERS
(F) Nomination by Members
Bye Law No 32. Procedure for Nomination by a Member and its revocation / revision
A Member and / or Associate Member of the Society may by writing under his hand, in the prescribed form, nominate a person or persons to whom the whole or part of the shares and / or interest of the Member in the capital / property of the Society shall be transferred in the event of his death. The acknowledgement of the nomination by the Secretary, shall be deemed to be the acceptance of nomination by the Secretary. No fees shall be charged for recording the first nomination. A Member may revoke or revise his nomination, at any time, by making an application, in writing, under his hand, to the Secretary of the Society. The acknowledgement of the variation in nomination / subsequent nomination by the Secretary, shall be deemed to be the cancellation of earlier nomination. Every revision of the nomination shall be charged a fee of Rs. 100/-
Bye Law No 33. Recording of Nomination or revocations / revisions thereof
On receipt of the Nomination form, or the letter for revocation of the earlier nomination, the same shall be placed before the meeting of the Committee. held next after the receipt of the Nomination form, or the letter of revocation of the earlier nomination, by the Secretary of the Society for recording the same in the minutes of the Committee. Every such nomination or revocation thereof shall be entered in the register of nominations by the Secretary of the Society within 7 days of the meeting of the Committee, in which it was recorded.
Bye Law No 34. Transfer of shares and interest of the deceased Member in the capital / property of the Nominee/Nominees
Subject to the provisions of the Section 30 of MCS Act. 1960, bye-law No. 17A or 19, on the Death of a Member, the Society shall transfer the shares and interest of the deceased Member in the Capital/Property of the Society to the Nominee/Nominees and in proportion with the shares and interest held by the deceased Member, in case property is purchased by Member and associate Member jointly. In the event of death of the Member, Nominee/Nominees shall submit the Application for Membership, within six months from the death of a Member. If there are more than one Nominee, on the death of a Member, such Nominees shall make Joint Application to the Society and indicate the name of the Nominee who should be enrolled as Member. The other nominees shall be enrolled as Joint/Associate Members unless the nominees indicate otherwise. The nominees shall also file an Indemnity Bond in the prescribed form Indemnifying the Society against any claims made to the shares and interest of the deceased Member in the Capital/Property of the Society by any of them, in case only one nominee is indicated by the Nominees for Membership of the Society.
Note: In case of acquiring Membership on the basis of Nomination, such Member shall hold the flat / unit in ‘trust’ till all the Legal Heirs are brought on record and shall not have the right to ownership and shall not create third party interest or alienation in any way whatsoever.
The Maharashtra Cooperative Societies Act 1960
Section 30 – Transfer of interest on death of member
(1) On the death of a member of a society, the society shall transfer the share or interest of the deceased member to a person or persons nominated in accordance with the rules, or, if no person has been so nominated to such person as may appear to the committee to be the heir or legal representative of the deceased member.
Provided that, such nominee, heir or legal representative, as the case may be, is duly admitted as a member of the society:
Provided further that, nothing in this subsection or in section 22 shall prevent a minor or a person of unsound mind from acquiring by inheritance or otherwise, any share or interest of a deceased member in a society.
(2) Notwithstanding anything contained in sub-section (1), any such nominee, heir or legal representative, as the case may be, may require the society to pay to him the value of the share or interest of the deceased members, ascertained in accordance with the rules.
(3) A society may pay all other moneys due to the deceased member from the society to such nominee, heir or legal representative, as the case may be.
(4) All transfers and payments duly made by a society in accordance with the provisions of this section shall be valid and effectual against any demand made upon the society by any other person.
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