Re: Regarding Notes

[SURYANARAYAN MOHAPATRA]

Dear Student,

1.       Nomination  facility is available only  in respect of  deposits held in individual capacity

and   no nomination can be made in case of accounts in the name of a company, firm, association, trust, HUF, etc.

2.   

    Also note the following guidelines on nominee/nomination

         1.  Only one person can be appointed as nominee for a particular deposit account.

3.      2.  Minor  can also become a nominee.

4.      3.  When  deposit is in the name of a minor, the nomination will be made by his legal  

             guardian. But in case of self operated minor account,  no nomination can be accepted.

5.      4. Nominee  has  only the right to receive the deposit proceeds on depositor’s death. 

              He has no right to operate the account.    

6.      5.  Nominee does not become the owner of the proceeds though he or she receives the 

             proceeds. Any person having right over the property can claim the same from the nominee.

7.      6.  In case of joint deposit accounts all the depositors can have only one nominee and all 

             jointly nominate only one nominee.

8.      7.  Nominee’s right to receive the deposit proceeds comes only on the death of  all the

              depositors.    

If  you need further  clarification you can meet me or call me over phone.

With best wishes.

Prof.  Surya Mohapatra

9912638453

On Fri, Oct 12, 2012 at 4:23 PM, jyotsna acharya <jyotsna...@gmail.com> wrote:

Good Evening Sir,

 

Sir could you please send some notes regarding the various nomination rules. As in case of partnership and death of the partners whose eligible for the amount or you could refer some book where from to study.

Thanking You

--
With Regards
Jyotsna Acharya