(1) On the death of a member of a co-operative society his share or interest in the co-operative society shall, subject to the provisions of sections 57 and 78 and to the further provisions of this section, be transferred—
(a) to the person, if any, nominated under section 79; or Nomination of transferee.
Disposal of deceased member's share or interest.
355 The West Bengal Co-operative Societies Act, 1983.
Disposal of share or interest of expelled, resigned or insane member.
[West Ben. Act (Chapter VIIL—Eligibility for membership and privileges, liabilities and obligations of members.—Section 81.)
(b) if there is no nominee or if the existence or residence of the nominee cannot be ascertained by the board or if, for any other cause, the transfer cannot be made without unreasonable delay, to the person who (subject to the production by such person of probate, letter of administration or succession certificate) appears to the board to be entitled in accordance with the rules to the possession of such share or interest as part of the estate of the deceased member; or
(c) on the application of the person referred to in clause (b) within three months from the date of death of the member, to such person as may be specified in the application.
(2) If the share or interest of a deceased member cannot be transferred in accordance with the provisions of sub-section (1) or if the person to whom such share or interest is payable under that sub-section claims payment of the value of such share or interest or if the co-operative society in accordance with the rules and its by-laws decides to proceed under this sub-section,—
(a) the share shall be transferred to a person qualified to be a transferee of the share under section 78 on receipt of the value of the share from such person; and
(b) the value of the share or the interest of the deceased member determined in accordance with the rules shall be paid to the person nominated under section 79 or to the person referred to in clause (b) of sub-section (1) of this section after deducting the amount payable under this Act to the cooperative society from the estate of the deceased member.
81. When a member of a co-operative society is expelled or resigns in accordance with the rules or the by-laws of the co-operative society or becomes insane,—
(a) his share or interest shall be transferred to a person qualified to be a transferee of such share or interest under section 78, and the value thereof shall be paid to the member in cash within two years from the date of expulsion or resignation, as the case may be, or, if the member is insane, to any person appointed to manage his properties under the Indian Lunacy 4 of 1912.
Act, 1912.
356 The West Bengal Co-operative Societies Act, 1983.
XLV of 1983.]
(Chapter V111.—Eligibility for membership and privileges, liabilities and obligations of members.—Sections 82, 83.)
82. Notwithstanding anything contained elsewhere in this Act or in any other law for the time being in force,—
(a) a member of a co-operative society, the object of which is the reclamation and colonization of land or the acquisition of land and the leasing thereof to its members, shall not be entitled to transfer his possession of, or interest in, any land held by him under the co-operative society except to the cooperative society or with its previous approval in accordance with its by-laws, to a member thereof;
(b) when the membership of a member of a co-operative society referred to in clause (a) terminates by reason of death, expulsion, resignation or insanity or any other cause, his possession of, or interest in, any land held by him under the co-operative society shall vest in his heir, executor or administrator or in the person, if any, nominated by him under section 79, if such heir, executor, administrator or person is willing to be admitted as a member of the co-operative society and is eligible for membership under section 69;
(c) if the heir, executor, administrator or person referred to in clause (b) does not become a member of the co-operative society, the possession of, and interest in, the land including the structure thereon, if any, of the deceased, expelled, resigned or insane member shall vest in the co-operative society, and the co-operative society shall pay to such heir, executor, administrator or person, as the case may be, a sum equivalent to the value of the land including the structure, if any, as determined in accordance with the rules or the bylaws of the co-operative society;
(d) no land held by a member under a co-operative society referred to in clause (a) or vested in his heir, executor or administrator or in the person under clause (b) shall be attachable in any suit or proceeding for the recovery of any debt other than a debt due to the co-operative society or to a member thereof.
Restriction on transfer of possession of, and interest in, land held under cooperative society.
83. When an order is issued under section 99 for winding up of a co-operative society which is a member of a co-operative society with limited liability and liquidator is appointed under section 100, the liquidator shall transfer the share or interest of the co-operative society being wound up, subject to the provisions of section 78, to any person or any other co-operative society on receipt from such person or co-operative society the value of such share or interest determined in accordance with the rules:
Disposal of share or interest of member of wound-up co-operative society.
357 Disposal of moneys to a deceased, expelled, resigned or insane member.
Membership or promotership of cooperative housing society.
The West Bengal Co-operative Societies Act, 1983.
[West Ben. Act (Chapter VIII.—Eligibility for membership and privileges, liabilities and obligations of members.—Section 84.—Chapter IX.—Special provisions for co-operative housing societies.—Section 85.)
Provided that if the transfer of share or interest is not possible within a reasonable period from the date on which the order issued under section 99 for winding up of the co-operative society takes effect, the value of such share or interest determined in accordance with the rules shall, within two years from the date of the order for winding up, be paid to the liquidator, or may, with the previous approval of the Registrar, be set off by the liquidator against any sum which is due from the cooperative society being wound up to the co-operative society with limited liability of which the co-operative society being wound up is a member.