(1) A member of a society may, for the purpose of transmission of his share or interest under sub-section (1) of section 30 of the Act or payment of value of his share or interest under sub-section (2) of section 30 of the Act, nominate not more than two persons as his nominees by submitting a nomination form laid down in the bye-laws duly signed by him.
(2) In the case of joint membership, each of the joint members will be entitled to nominate not more than one person as his nominee. The nomination form submitted by each of the joint members shall be signed by both the joint members.
(3) The society shall register such nomination in a register kept for the purpose.
(4) Where a member of a society has not made any nomination, the society shall call upon the member to submit his nomination form within ninety days of the service of notice by the Society upon such member for the said purpose.
(5) The nomination made under sub-rule (1) may be revoked or varied by any other nomination.