Bare ActsThe Chit Funds Act, 1982

Section 10

Copies of chit agreement to be given to subscribers.

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

(1) A foreman shall, as soon as may be after he has obtained the certificate of commencement under sub-section (2) of section 9, but not later than the date of the first draw of the chit, furnish to every subscriber, a copy of the chit agreement certified to be a true copy. (2) A foreman shall, within fifteen days after the close of the month in which the draw for the first instalment of the chit is held, file with the Registrar, a certificate to the effect that the provisions of sub-section (1) have been complied with.

Section 10 – The Chit Funds Act, 1982 | DailyLaw.ai