Bye-law 37Ch.3 · Membership
Payment of the value of Shares and interest of the deceased Member in the capital / property of the Society to the heir / legal Representative
Heading as printed in the official Model Bye-laws.
Official Text
Payment of the value of Shares and interest of the deceased Member in the capital / property of the Society to the heir / legal Representative
37. If, in the opinion of the Committee, there is only one heir / legal representative of the deceased Member and if he demands payment of the value of the shares and interest of the deceased Member in the capital/property of the Society, the Society may acquire the same and pay him the value thereof as provided under the bye-law No. 64 after obtaining the indemnity bond referred to in the bye-law No. 35. If, in the opinion of the Committee, there are more heirs/legal representatives than one and if they demand payment of the value of Shares and interest of the deceased Member in the capital/property of the Society, the Society may acquire the same and pay them value thereof in equal proportion as provided under the bye-law No. 64, after obtaining the Indemnity Bond referred to in the bye-law No. 35, from all the heirs/legal representatives jointly.
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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