Section 27 of the Chit Funds Act, 1982 – Non-prized subscribers to pay subscriptions and obtain receipts

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Section 27: Non-prized subscribers to pay subscriptions and obtain receipts

Every non-prized subscriber shall pay his subscription due in respect of every instalment on the dates and times and at the places mentioned in the chit agreement and shall, on such payment, be entitled to obtain a receipt from the foreman.

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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