Section 31 — Prized subscriber to furnish security.
The Chit Funds Act, 1982
Every prized subscriber shall, if he has not offered to deduct the amount of all future subscriptions from the 1 [net chit 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.Open in Lexace · Ask the AI about this section