Transfer of interest on death of member

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Full Text of the Document

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....no person so nominated, to such person as may appear to the committee to be the heir or legal representative of the deceased member, or pay to such nominee, heir or legal represen­tative, as the case may be, a sum representing the value of such member's share or interest, as ascertained in accordance with the rules or by-laws : Provided that-- (i) in the case of a society with unlimited....