24. When does a shareholder's membership expire?
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person may cease to be the member of the company: ... Insolvency The shares of an insolvent vest official receiver or assignee then the official receiver or assignee transfers his shares to another person ,the insolvent ceases to be a member on the registration of the transfer as an member.06-Aug-2019
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The deceased shareholder's rights will be administered by his or her executors (if there is a will) or administrators of the estate if the shareholder has died intestate.
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