(1) Every foreman shall be liable to account to the subscribers for the amounts due to them.
(2) Where there are more than one foreman in a chit,
each one of them jointly and severally and, if the foreman is a firm or
other association of individuals, each one of the partners or individuals
thereof jointly and severally and, if the foreman is a company, the company
as such, shall be liable to the subscribers in respect of the obligations
arising out of the chit.
Section 21 of Chit Funds Act - Rights of foreman
Section 22 of Chit Funds Act - Duties of foreman
Section 23 of Chit Funds Act - Books, records, etc., to be kept by foreman
Section 24 of Chit Funds Act - Balance sheet
Section 25 of Chit Funds Act - Liability of foreman to subscribers
Section 26 of Chit Funds Act - Withdrawal of foreman
Section 27 of Chit Funds Act - Non-prized subscribers to pay subscriptions and obtain receipts
Section 28 of Chit Funds Act - Removal of defaulting subscribers
Section 29 of Chit Funds Act - Substitution of subscribers
Section 30 of Chit Funds Act - Amounts due to defaulting subscribers