Society reg no BOM/WKW/HSG/(TC)13395/2006-2007dt 20/06/2006
State MAHARASHTRA
Queries are as under:
- Our managing Committee is coming to an end and none of the managing committee members are interested in standing for elections nor the society members are interested in this case what is to be done please advise
- On death of a member in the nomination form has 4 sons @55 each. Can the society issue 4 share certificates to each son with entitlement of 25% please advice
I C Naik
- I suggest you to inform the Dy. Registrar the date of the last day in office of the present committee. If they are not interested (which normally happens) it does not mean new members can not constitute the Committee. The Dy. Registrar will organize elections. The M C S Act 1960 has made a provision that current committee will continue in office till elections are held and new committee elected.
- For a member of the housing society 10 shares (earlier it was 5) of Rs 50 is a minimum holding. In respect of one dwelling unit only one individual can be admitted to member ship. Out of 4 Nominees they have to choose one to be admitted as a main member. He will have all the rights as main member. The Share Certificate will have 4 names 1+3, the three are Associate members. Therir rights will be what are specified in registered bye-laws of the society. Indicating 25% share is a misnomer. It is wrong provision. Nomination form is not be ultimate evidence of ownership of property. Its purpose is to fix the responsibility about the flat upon death of its member.
In case you are really interested to go in to the Depth of the Nomination matter I suggest you read more on