Section 43

Subscribers' dues to be first charge on chit assets.

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
    Any amount due to the subscriber from a foreman in relation to the chit business shall be a first charge on the chit assets.

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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