Malaysia legislation

Section 24

of CO-OPERATIVE SOCIETIES ACT 1993

Section 24

(a)

in the case of a deceased member who was a Muslim, to the legal representative of such member or to such person as may appear to the Board to be a person entitled to such share or interest pursuant to any distribution made under any law relating to the distribution of estate; or

(b)

in the case of a deceased member who was not a Muslim, to the person nominated in accordance with the regulations in this behalf or, if there is no person so nominated, to such person as may appear to the Board to be the heir or legal representative of such member, or may pay to such legal representative, nominee, heir or person, as the case may be, a sum representing the value of the deceased member's share or interest, as ascertained in accordance with the regulations or its bylaws.

(2)

If the deceased member was not a Muslim, and the nominee, heir or legal representative is not qualified for membership in accordance with this Act, the regulations or the by-laws, the registered society may, on the application of such nominee, heir or legal representative, as the case may be, within six months of the death of such member, transfer the share or interest of such member to any person specified in the application who is so qualified.

(3)

Notwithstanding subsection (1), if six months have elapsed since the death of a member who was a Muslim and the registered society concerned is unable to ascertain who the legal representative of such member is or no legal representative has been appointed or the estate of such member has not been distributed or the estate of such member has been distributed but the registered society is unable to ascertain who the person entitled to such share or interest pursuant to such distribution is, the registered society may pay to the Official Administrator a sum representing the value of the share or interest of such member, as ascertained in accordance with the regulations or its by-laws.

(4)

A registered society may pay all other moneys due to a deceased member from the registered society to the legal representative, Official Administrator, nominee, heir or person, as the case may be, referred to in subsections (1) and (3).