142 



APPENDIX TO CHAPTER VI 



Transfer of 

 interest on 

 death of 

 member. 



Liability of 

 past member. 



Liability of 

 the estates 

 of deceased 

 member. 



shall be entitled to or have any claim on such share or 

 interest. 



1 6. On the death of a member, the society may pay to or 

 transfer to the credit of the person nominated in accordance 

 with the rules made in this behalf, or, if there is no person so 

 nominated, such person as may appear to the Committee to be 

 entitled to receive the same as heir or legal representative of 

 the deceased member, a sum representing the value of such 

 member's share or interest, as ascertained in accordance with 

 the rules or by-laws and all moneys due to him from the 

 society, and the society shall thereupon be absolved from all 

 liability in respect of such share or interest or other moneys as 

 aforesaid. 



17. The liabiHty of a past member for the debts of the 

 society as they existed at the time when he ceased to be a 

 member shall continue for a period of one year from the date 

 of his ceasing to be a member. 



18. The estate of a deceased member shall be liable for a 

 period of one year from the time of his decease for the debts of 

 the society as they existed at the time of his decease. 



Prior claim 

 of society as 

 against crops, 

 agricultural 

 produce, 

 cattle, imple- 

 ments, and 

 raw material. 



Charge and 

 set-oft in 

 respect of 

 shares or 

 interest of 

 member. 



Priority of Society's Claim against a Member. 



ig. Subject to any prior claim of the Government in respect 

 of land-revenue or any money recoverable as land-revenue or 

 of a landlord in respect of rent or any money recoverable 

 as rent, a society shall be entitled in priority to other creditors 

 to enforce its claim — 



(a) Upon the crops or other agricultural produce of a 



member or past member at any time within a year 

 from the date when seed or manure was advanced 

 or money for the purchase of seed or manure was 

 lent to such member or past member, in respect of 

 the unpaid portion of such advance or loan : 



(b) Upon any cattle, agricultural or industrial implements 



or raw materials or manufactures, supplied by the 

 society or purchased in whole or in part with money 

 lent by the society, in respect of the outstanding 

 liability on account of such supply or loan. 



20. A society shall have a charge upon the shares or interest 

 in the capital and on the deposits of a member or past member 

 and upon any dividend, bonus, or profits payable to a member 

 or past member in respect of any debt due from such member or 

 past member to the society, and may set-off any sum credited 

 or payable to a member or past member in or towards payment 

 of any such debt. 



