State Act
19
Section 19. Liability of a foreman to the subscribes
THE UTTAR PRADESH CHIT FUND ACT, 1975
Act no. 53 of 19751975RepealedUttarakhand (State Act)
This Act was repealed on a date we do not have by the Chit Funds Act, 1982 (Central Act 40 of 1982), s.90(1); it may still apply to matters that began before then.
19. (1) Every foreman shall be liable to account to the subscribers for the amounts due to them. (2) Where there are more than one foreman, each one of them jointly and severally, or if the foreman is a firm, each one of the partners thereof jointly and severally and if the foreman is a Corporation, that Corporation shall be liable to the subscribers in respect of the obligations arising out of the chit.