NISM-Series V-A: Mutual Fund Certification Exam Notes
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If the nominee is a minor, then a guardian too can be specified.
nomination cannot be made in favour of a trust (except a religious or charitable trust), society, body corporate, partnership, Karta of an HUF or a Power of Attorney holder.
Transmission of Units - process of transferring units to the person entitled to receive it in the event of the death of the unit holder
If the first holder passes away, the second holder is substituted as first holder.
In a singly held folio with nominations, the units are transferred to the nominee.
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