Chit Funds Act, 1982 Section 31 - Bare Act |
| State | Central Government |
| Year | 1982 |
| Section Title | Prized Subscriber to Furnish Security |
Every prized subscriber shall, if he has not offered to deduct the amount of all future subscriptions from the prize amount due to him, furnish, and a foreman shall take, sufficient security for the due payment of all future subscriptions and, if the foreman is a prized subscriber, he shall give security for the due payment of all the future subscriptions to the satisfaction of the Registrar.