(2) Subject to the provisions of faction 18, a registered society may, on the death of a member, transfer his share or interest in the capital to the person nominated in accordance with the rules made in this behalf, or, if there is no person so nominated, to such person Transfer of interest on death of member.
65O THE CrAZETffl OF INDIA EXTRAORDINARY [PAHT M 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—
(a) in the case of a registered society with unlimited liability, such nominee, heir or legal representative, as the case may be, may require payment by the society of the value of the share or interest of the deceased member ascertained as aforesaid; and
(fa) in the case of a registered society with limited liability, the society shall transfer the share or interest of the deceased member to such nominee, heir or legal representative, as the case may be, being qualified in accordance with the rules and by-laws for membership of the society, or on his application within one month of the death of the deceased member to any person specified in the application who is so qualified.
(2) Subject as aforesaid, a registered society may pay all other moneys due to the deceased member from the society to such nominee, heir or legal representative, as the case may be.
(3) All transfers and payments made by a registered society in accordance with the provisions of this section shall be valid and effectual against any demand made upon the society by any other person.
Liability of East m«ner or of the estate of a deceased member.
21. The liability of a past member or of the estate of a deceased member for the debts of a registered society as they existed on the date of his ceasing to be a member or of his decease, as the case may be, shall continue for a period of two years from such date.
Register of members. 22. Any register or list of members or shares kept by any registered society shall be prima facie evidence of any of the following particulars entered therein: —
(a) the date on which the name of any person was entered in such register or list as a member; and
(fa) the date on which any such person ceased to be a member.
Proof of entries In books of societies.