Commentary

54 Payment out of investment of deceased members

BUILDING SOCIETIES vol 6(1)
| Commentary

54 Payment out of investment of deceased members

| Commentary

54 Payment out of investment of deceased members

Where a member of, or a depositor with, a building society dies leaving a sum of money not exceeding the statutory limit1 in the funds of the society, the society may pay the money, without a grant of representation, to a person who provides satisfactory evidence of the death2 and a statutory declaration as to the death and his entitlement under the will or intestacy rules to receive the money3.

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