law: Multi-State Cooperative Societies Act, 1984 
  27. Transfer of
  
  interest on death of members.- 
  1.     
  
    On
  
  the death of a member of multi-State cooperative society may transfer the share
  
  or interest of the deceased member to the person nominated in accordance with
  
  the rules made 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 the
  
  deceased member, or pay to such nominee, heir or legal representative, as the
  
  case may be, a sum representing the value of such members share or interest as
  
  ascertained in accordance with the rules;
  Provided
  
  that  
  
  no such transfer or payment shall be made except with the consent of the
  
  nominee, heir or legal representative, as the case may be;
  1.     
  
  
  2.     
  
    A
  
  multi-State cooperative society shall, unless within six months of the death of
  
  the member prevented by an order of a competent court, pay to such nominee,
  
  heir or legal representative, as the case may be, all other moneys due to the
  
  deceased member from the society.
  3.     
  
    All
  
  transfer and payments made by a multi-State cooperative society in accordance
  
  with the provisions of this section shall be valid and effectual against any
  
  demand made upon the society by any other person.