Section 3(4) in The Maharashtra Chit Funds Rules, 1976
(4)Duties of the Foreman. -(a)Duty of Foreman to specify the date and place for payment of the prize amount to the prized subscribers;(b)details of the arrangements made for the investment of funds including the undisbursed amount due to prized subscribers, arrears of subscription collected from substituted subscribers and future subscriptions from defaulting prized subscribers;(c)names of the approved Banks into which all the moneys relating to the chit .shall be deposited under the provisions of the Act;(d)description and kind of security offered by the Foreman for running the chit with right reserved to change or substitute the security subject to the previous sanction of the Registrar;(e)nature and kind of audit of accounts proposed and the person by whom the balance-sheets are to be audited as required by section 17;(f)date, time and place for the examination of chit records under section 37 and the fee payable therefor;
