( Author )
29 October 2009
We have nomination form in most the financial transactions. I want to know what is the legal value of the nomination form in various investments like Banks, LIC etc.
Once the nomination form is filled, will the Nominee get the amount without any legal formalities except that the nominee has to prove the identity? or the nominee need to follow some legal formalities also?
As per some of the LIC personnal nomination form has no meaning unless it is registered on a stamp paper. If so then why to put a nomination form on every application? there should be a stamp paper instead of nomination form.
Still awaiting for the reply....