Section 36 in Jammu and Kashmir Chit Funds Act, 2016
36. Recognition of transfer by foreman.
- Every transfer under section 35 shall, within a period of fourteen days from the date of receipt of the proposal for transfer by the foreman, be recognized by him unless the transferee is not solvent or the transfer was effected with a view to defeating the provisions of any law including this Act and the decision of the foreman to recognize the transfer or not shall forthwith be communicated to the parties concerned.
