A transfer of the share or other interest of a deceased member of a company made by his personal representative is, although the personal representative is not himself a member of the company, as valid as if he had been such a member at the time of the execution of the instrument of transfer.
Companies and Allied Matters Act 2020 · Part B · Chapter 8
Section 178 Transfer by personal representative
Cite as: Companies and Allied Matters Act 2020, section 178
What this section means
From the guide: Transferring shares, transmission and share buybacks under CAMA 2020
- A personal representative can transfer a deceased member’s shares even if not himself a member (section 178).
Read the whole subject
Source: Companies and Allied Matters Act 2020 (Act No. 3 of 2020), Official Gazette No. 124, Lagos, 10 August 2020. General information, not legal advice.