Section 26: Withdrawal of foreman.

The Chit Funds Act, 1982Central Act · Act 40 of 1982

(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 affect the security given by him under section 20 or section 31.

Where this provision sits

Act	The Chit Funds Act, 1982
Section	26
Marginal note	Withdrawal of foreman.
Jurisdiction	Central
Status	In force as published by the source

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