Assoc membership comes to an end upon death

Lalit Kumar

Share certificate issued  by( promoters) cooperative housing society  in 1969/70 in names of husband and wife .  Husband’s name is  first and wife’s name is second. Form  14  under bye law 32 was filed jointly by Husband and wife nominating their two children  with 50% each  share.

A)  Now, the second named wife died, Can  you pls guide as  to the procedure to be followed  by society”s Mg.Committee.

B) Further  pls clarify:-

1)  Is joint nomination filed is valid or not  ?

2) Both nominated children are now  PIO  and  taken Canadian Citizenship.

3) Are they eligible under  RBI law/rule to inherit parent”s property?

I C Naik 

1.Associate membership comes to an end upon death; the committee should take the fact on record and delete the name from the share certificate,

2.Husband should submit another form 14.

3.Subject to approval of RBI the children can hold the flat jointly.

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