Section 43 of the Chit Funds Act, 1982 – Subscribers’ dues to be first charge on chit assets

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Section 43: Subscribers’ dues to be first charge on chit assets

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: 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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