LexSection 26 — Withdrawal of foreman.
The Chit Funds Act, 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.Open in Lexace · Ask the AI about this section