State Act
20
Section 20. withdrawal of a foreman
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This Act was repealed on a date we do not have by the Chit Funds Act, 1982 (Central Act 40 of 1982), s.90(1); it may still apply to matters that began before then.
20. (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.