Section 32 of the Chit Funds Act, 1982 – Prized subscriber to pay subscriptions regularly

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Section 32: 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.

Source: official text of The Chit Funds Act, 1982 as published on India Code (PDF). All sections of the Chit Funds Act, 1982.

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