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 [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.
Amendment notes (1)
- Subs w.e.f. 1-1-2020 . Subs. by Act 41 of 2019, s. 3, for “prize amount” (w.e.f. 1-1-2020).