162
39 & 40 Vict. Cap. 45, s. 11.
society shall either transfer the shares in manner directed
on such nomination or pay to every person entitled there
under the full value of his interest, at their option, unless
the shares if transferred to any such nominee would raise
his interest in the society to an amount exceeding two
hundred pounds sterling, in which case they shall pay him
the full value of such shares, not exceeding the sum afore
said (a).
(6.) Distribution of sums not exceeding fifty pounds.—If
any member of a society, entitled to an interest in the
society not exceeding fifty pounds, dies intestate and with
out having made any nomination under this Act which
remains unrevoked at his death, such interest shall be
transferable or payable, without letters of administration,
to or among the persons who appear to a majority of the
committee, upon such evidence as they may deem satisfac
tory, to be entitled by law to receive the same (b).
(7.) Payments to persons apparently entitled valid.—
Whenever the committee, after the decease of any member,
make any payment or transfer to any person who at the
■time appears to them to be entitled under this section, the
■payment or transfer shall be valid and effectual against any
demand made upon the committee or the society by any
■other person.
(8.) When trustees are absent, &c., registrar may order stock
to be transferred.—When any person, in whose name any
stock belonging to any such society transferable at the
Bank of England or Bank of Ireland is standing, either
jointly with another or others or solely, as a trustee there
for, is absent from Great Britain or Ireland respectively, or
becomes bankrupt, or files any petition or executes any
deed for liquidation of his affairs by assignment or arrange
ment, or for composition with his creditors, or becomes a
lunatic, or is dead, or has been removed from his office of
(a) This is re-enacted, with amendments, from 30 & 31 Vict.
•c. 117, s. 5.
(5) See Table of Distribution, Appendix E.
