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The Pamphlet Collection of Sir Robert Stout: Volume 16

Death of Shareholders

Death of Shareholders.

61. Shares of the Society, on which no advance has been made, shall be deemed to be personal estate; and on the death of a Shareholder holding the same, such Share or Shares shall belong to his or her executors, with all the benefits, and under all the conditions thereto attached.

62. Upon the death of a Shareholder holding Shares on which an advance has been made, the party having right to the property in respect of which the advance has been made shall be deemed to be the Shareholder, and shall be liable to fulfil the whole obligations incumbent on such deceased Shareholder at the time of his death.