Section 10

Copies of chit agreement to be given to subscribers.

The Chit Funds Act, 1982

  • Act 40 of 1982
  • Ministry of Finance
  • Department of Financial Services
About this Act

An Act to provide for the regulation of chit funds and for matters connected therewith.

All sections
    (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.

Source: India Code (Legislative Department, Govt. of India). Check the official Gazette before relying on it in court. Not legal advice. Free legal aid: 15100 (NALSA) · Know your rights

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