Section 23. Transfer of interest on death of members.

If a member of a registered co-operative society dies, his shares and interest in the co-operative society shall, subject to the provision of this Act, be transferred:- (a) to the person, if any, nominated in accordance with the provision of section 22 of the Act; (b) if there be no such nominee or if the nominee is not available or is difficult to be ascertained by the managing body, or if for any other cause such transfer cannot be made without unreasonable delay or difficulty, to the person as may appear to the managing body to be the heir or legal representative of the deceased member provided that ninety days have elapsed from the date of the members death. No new claim shall be entertained after the said period of ninety days.