Members
 
 
 
ACT 125
COMPANIES ACT 1965 (REVISED - 1973)
PART X - WINDING UP
DIVISION 1 - PRELIMINARY

 
Section 216. Contributories in the case of death of member.
 
Section 216. Contributories in the case of death of member. (COMPANIES ACT 1965 (REVISED - 1973) - ACT 125) (1) If a contributory dies, either before or after he has been placed on the list of contributories, his personal representatives shall be liable in due course of administration to contribute to the assets of the company in discharge of his liability and shall be contributories accordingly, and if they make default in paying any money ordered to be paid by them proceedings may be taken for administering the estate of the deceased contributory and for compelling payment thereout of the money due.

Contributories in case of bankruptcy of member

(2) If a contributory becomes bankrupt or assigns his estate for the benefit of his creditors, either before or after he has been placed on the list of contributories—

    (a) his trustee shall represent him for all the purposes of the winding up and shall be a contributory accordingly; and

    (b) there may be proved against his estate the estimated value of his liability to future calls as well as calls already made.