Interest on special-deposit accounts shall be computed in accordance with the regulations of the bank. [1493-10.] SECTION  1253 . Accounts Not to Draw Interest . — No interest shall be allowed on dormant accounts, nor on money to the credit of any depositor in excess of one thousand pesos in addition to the amount represented by firearms certificates of deposit, except t hat deposits made by charitable or benevolent societies, as provided in section twelve hundred and thirty-nine, not in excess of two thousand pesos shall bear interest. [1493-10 ( b, g ).] SECTION  1254 . Deposit Books or Certificates Not Negotiable . — Deposit books, certificates, or other evidences of deposit issued by the bank, shall not be negotiable, but any depositor who has an account in the bank may, subject to the bank regulations, app oint another person to make a deposit in, or withdrawal from, that account. [1493-10 ( b, g ).] SECTION  1255 . Nomination of Beneficiary . — Any depositor of the age of majority may execute a nomination in connection with his postal savings account, providing for the transfer of his deposit, if not in excess of five hundred pesos, or any part thereof n ot in excess of the same limit, to the nominee upon the occasion of the depositor's death. Such nomination shall be executed in writing, in prescribed form, and shall be signed by the depositor in the presence of a subscribing witness (other than the nominee), and upon due execution, shall be forwarded during the depositor's lifetime to the chief  of the postal savings bank division for registration. [1493-16 ( b, c ).] SECTION  1256 . Formalities Incident to Payment to Beneficiary . — When a claim is made under a nomination executed by a depositor in the manner above provided, and in force at the depositor's death, the nominee shall be required, before receiving any benefit s from the depositor's account, to forward to the chief of the postal savings bank division satisfactory evidence of the depositor's death and of his identity as the person named in the nomination. The chief of the postal savings bank division, upon being  satisfied from the above-mentioned evidence of the death of the depositor, the identity of the nominee, and the legality of his claim, 369 Copyright 2012 CD Technologies Asia, Inc. and Accesslaw, Inc. Philippine Law Encyclopedia 2011