Bare ActsThe CHIT FUNDS ACT, 1982

Section 32

Prized subscriber to pay subscriptions regularly

Amendment status not verified — confirm the current text below against the official source.

Prized subscriber to pay subscriptions regularly.—Every prized subscriber shall pay his subscriptions regularly on the dates and times and at the place mentioned in the chit agreement and, on his failure to do so, he shall be liable to make a consolidated payment of all the future subscriptions forthwith.