arun kumar (Executive) 31 March 2018

Associate Membership

Sir,
Can i apply for Associate Membership for a flat which stands on my fathers name also the share certificate stands in my fathers name only and is lying with Bank from where the mortgage loan is taken by my father.

Earlier i used to give authority letter of my father but now society refuses to accept it and says to become associate member so is there any provision in new model bylaws?

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3 Replies

SHIRISH PAWAR, 7738990900 (Advocate) 31 March 2018

You can become associate member. Original share certificate will have your father name.

arun kumar (Executive) 31 March 2018

Thanks sir for prompt reply. So is it possible to mutate my name on Share Certificate.

Yusuf Rampurawala 03 April 2018

Yes you can apply for associate membership with consent of your father. Once application is approved, your name will be mutated in share certificate. Since the certificate is lying with the bank, you will have to apply to the bank for giving you the original certificate for purpose of mutation. The society may also require you to obtain the NOC of bank for mutating your name.