In the event of death of a member, the society after satisfying itself and alter obtaining such documentary proof of the death of a member as it may consider necessary, shall pay to the nominee the value of the deceased member's deposits, interests and dividend after deducting such sums as may be due to the member by the society, as soon as possible.

If for any reason on the death of a member a nominee does not exist, the society 'may pay any money due to the deceased member to the personal representative or recognized heirs of that deceased member.

After paying the nominee the value of the deceased members shares, deposit or interests less any sums due, the

Nominee’s obligation by the society shall be discharged