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Section 31: Prized subscriber to furnish security
Every prized subscriber shall, if he has not offered to deduct the amount of all future subscriptions from the 1[net chit amount] due to him, furnish, and a foreman shall take, sufficient security for the due payment of all future subscriptions and, if the foreman is a prized subscriber, he shall give security for the due payment of all the future subscriptions to the satisfaction of the Registrar.
Source: official text of The Chit Funds Act, 1982 as published on India Code (PDF). All sections of the Chit Funds Act, 1982.