Central Act

26

Section 26. Withdrawal of foreman.

The Chit Funds Act, 1982

In forceAll India (Central Act)

26. Withdrawal of foreman. (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.