Section 40

If two or more persons have jointly inherited the share or interest in the shares of a deceased member of a society, such person may be admitted to the ordinary membership of the society. As regards voting right in respect of the share or shares, such persons shall, by declaration, nominate any one from amongst themselves to exercise the right of voting under Section 20, whereupon the society shall enter in the share certificate the name of such person so as to head the name of the joint share holders, who shall be legal heir and will become member after paying his full contribution. In case of one or more legal heirs society may admit all or more than one heir as member. Explanation- (i) Though the voting right shall be enjoyed only by the person so mentioned in the declaration and the share certificate, but all the liabilities shall be borne by all of them jointly and severally as provided under the Act, Rules and the Bye-laws of the society. (ii) This rule will apply only so long as the share or shares are held jointly.