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Section 20

The Uttar Pradesh Chit Fund Act, 1975State Act of Uttarakhand · Act 53 of 1975

(1) Where there are more than one person as foreman in a chit, none of them shall withdraw from it until the termination of the chit unless such withdrawal is consented to by all the non-prized subscribers and unpaid prized subscribers and a true copy of such consent has been filed by the remaining foreman within fourteen days of the date of such consent.

(2) Such withdrawal shall not, however, affect the security given under section 14.

69 [The Uttar Pradesh Chit Funds Act, 1975] [Section 21-23]

CHAPTER IV NON-PRIZED SUBSCRIBERS Non-prized subscribers to pay subscription and obtain receipt

21. Every non-prized subscriber shall pay his subscription at the time and place mentioned in the chit agreement and shall on such payment be entitled to a receipt from the foreman.

Removal of defaulting subscribers

Where this provision sits

ActThe Uttar Pradesh Chit Fund Act, 1975
Section20
JurisdictionState of Uttarakhand
StatusIn force as published by the source

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