Section 19 in The Maharashtra Chit Funds Act, 1974
19. Withdrawal of Foreman.
(1)No Foreman or where there are more than one person as Foreman in a chit, none of them shall withdraw from the chit until the termination of the chit unless such withdrawal is assented to by all the non-prized subscribers and unpaid prized subscribers and copy of such assent has been filed as required by section 34.(2)The withdrawal of a Foreman from any chit shall not affect the security given by a prized subscriber under section 24.
