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State of Andhra Pradesh - Section

Section 18 in Andhra Pradesh Chit Funds Act, 1971

18. Withdrawal of a foreman.

- No foreman or where there are more than one person as foreman in a chit none of them, shall withdraw from the chit until termination of the chit unless such withdrawal is assented to by all the non-prized subscribers and unpaid prized subscribers and a copy of such as sent has been filed as required by Section 32. Such withdrawal shall not, how ever, affect the security given under Section 12.