What is the procedure for a company to tansfer of share in the name of Nominee after death of the original shareholder.
2 Replies
rajesh
(CS student)
(32 Points)
Replied 08 September 2008
Upon death of a shareholder, the nominee is entitled to have the shares transmitted in his favour. He/She will have to give a notice in writing to this effect along with the share certificate(s) of the deceased shareholders. For registration of shares in the name of the nominee, he is required to produce proof of identity, e.g., copy of passport, driving license, voter's identity card or such other proof like death certificate to the satisfaction of the company. The nominee should also submit his specimen signature duly attested along with a request for transfer. Upon scrutiny of the documents submitted by the nominee, shares will be transmitted in his favour and share certificates returned to him duly endorsed.
verifiedtrading
(internet trader)
(24 Points)
Replied 09 September 2008
If the transferee already has an account with the same name and address details, the new shares will be added to their existing holding.
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