Bye-law 36Ch.3 · Membership
Value of Deceased Member's Share and Interest
Descriptive title. As printed in the official bye-laws: “Payment of the value of Shares and interest of the deceased Member in the capital /” (truncated in the print)
Official Text
Payment of the value of Shares and interest of the deceased Member in the capital /
36. If there is the single nominee and if he demands payment of the value of Shares and interest of the deceased Member, in the capital / property of the Society, the Society shall acquire the same and pay him the value thereof as provided under the bye-law No.63. If, however, there are more nominees than one and if they demand payment of the value of the shares and interest of the deceased Member in the capital/property of the Society, the Society shall acquire the same and pay them value thereof as provided under the bye-law referred to above in the proportion mentioned in the nomination form. If no proportion is mentioned in the nomination form, the payment shall be in equal proportions.
Related form: Appendix 14 – Nomination Form — Housing Society Maharashtra
Next step
- Appendix 14 – Nomination Form — Housing Society Maharashtra
- 2026 Rules: Membership — regular, associate & provisional (106C-4 · 106C-5 · 106C-6)
After a member's death, the legal heirs may seek membership by a registered family arrangement (Rule 106C-6(2)).
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37. Payment of the value of Shares and interest of the deceased Member in the capital / property of the Society to the heir / legal Representative
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