sch.6-sec.17Value of interest of deceased member (CNL ss102–105)

sch.6-sec.17 Value of interest of deceased member (CNL ss102–105)

Membership ceases on death (see section 117 of the Law and rule 8 ). Sections 102 – 104 of the Law deal with the transfer of shares and other interests on death. Section 105 of the Law requires the rules to determine the value of the deceased member’s interest. The value of the interest of a deceased member is the amount that would have been payable to the member if the member had resigned and includes any prepayments of regular subscriptions or other fees less any amounts owing to the co-operative by the member.