https://www.taxtmi.com/caselaws?id=96535 Subscription to a company's memorandum creates membership that does not cease simply by failure to pay; membership ends only by valid surrender accepted under the articles, valid transfer, or payment. Absent evidence of a company-accepted surrender or valid repudiation by the subscriber, heirs succeed to the subscriber's position and may be placed on the list of contributories. On interest, where there was only initial correspondence and no subsequent lawful demand, refusal or neglect to comply was not established, and interest on the unpaid subscription was not awarded. en-us Tue, 06 May 1930 00:00:00 +0530 Mon, 09 Jan 2012 10:53:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96535 Subscription to a company's memorandum creates membership that does not cease simply by failure to pay; membership ends only by valid surrender accepted under the articles, valid transfer, or payment. Absent evidence of a company-accepted surrender or valid repudiation by the subscriber, heirs succeed to the subscriber's position and may be placed on the list of contributories. On interest, where there was only initial correspondence and no subsequent lawful demand, refusal or neglect to comply was not established, and interest on the unpaid subscription was not awarded. Case-Laws Companies Law Tue, 06 May 1930 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=96535