Short Answer

Yes, a member's share can be split or subdivided in case of inheritance.

Detailed Explanation

Section 29 of the Gujarat Cooperative Societies Act, 1961 allows for the transfer of shares or interest of a deceased member to his legal heirs. This means that if a member passes away, his share in the cooperative society can be divided among his heirs as per the law of inheritance. The legal heirs become entitled to the deceased member's share in the society.

Furthermore, Rule 50 of the Gujarat Cooperative Societies Rules, 1965 provides the procedure for the transmission of shares to the legal heirs of a deceased member. The legal heirs need to apply to the society for the transfer of the deceased member's share in their names. The society then transfers the share to the legal heirs after verifying the legal documents and completing the necessary formalities.

In practice, when a member of a cooperative society passes away, his legal heirs can claim their share in the society by following the process outlined in the Act and Rules. The society must facilitate the transfer of the deceased member's share to the legal heirs without any undue delay.

Real-world Scenarios

• Mr. Patel, a member of a cooperative society, passes away. His wife and two children are his legal heirs. They apply to the society for the transfer of Mr. Patel's share in their names as per Section 29 of the Act and Rule 50 of the Rules.

• In another scenario, a member dies intestate, i.e., without a will. In such cases, the inheritance of the deceased member's share follows the laws of succession applicable in Gujarat.

Overall, the Gujarat Cooperative Societies Act and Rules provide a clear framework for the division and transfer of a member's share in case of inheritance, ensuring a smooth transition of ownership within the cooperative society.

References

• Section 29 of the Gujarat Cooperative Societies Act, 1961: Official PDF

• Rule 50 of the Gujarat Cooperative Societies Rules, 1965: Official PDF