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Chit Funds Act, 1982 Section 26 - Bare Act

StateCentral Government
Year
Section TitleWithdrawal of Foreman
Act Info:

(1) No foreman, or where there are more than one foreman in a chit, none of them shall withdraw from the chit until its termination unless such withdrawal is assented to in writing by all the non- prized and unpaid prized subscribers and a copy of such assent has been filed with the Registrar under section 41.

(2) The withdrawal from a chit of any one of the foreman shall not effect the security given by him under section 20 or section 31.


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