NEXT OF KIN
Every member may nominate in writing one person to whom, on his death, his shares, deposits, or any other interest shall be transferred. Appointment of a nominee by a member shall be in writing and signed by the member in the presence of two attesting witnesses. The name of the nominee shall be entered in the Register of Members or recorded and placed in a sealed envelope to be kept safely by the Society. A member shall have the right to change his nominee, but any such change or alteration must be in writing and signed by the member in the presence of two attesting witnesses.
The nominee shall be paid the value of the deceased member’s shares or interest, subject to production of the deceased member’s death certificate. Such dues shall be payable within sixty days after production of the death certificate. Loans outstanding with the deceased member will be offset through CHUNA MEMBERS BENEVOLENT FUND (CHUMBEFU), provided the deceased member was not in default in CHUMBEFU contribution for 3 months prior to death.