Section 27 in The Maharashtra Chit Funds Act, 1974
27. Restrictions on transfer of rights of Foreman.
(1)No transfer of the rights of a Foreman to receive subscriptions from prized subscribers shall be made without the previous sanction in writing of the Registrar.(2)Any such transfer of the rights of a Foreman to receive subscriptions from a prized subscriber, shall if it is likely to affect prejudicially the interest of any non-prized subscriber or unpaid prized subscriber, be void and be set aside by such officer as may be empowered by the State Government in this behalf.(3)Where under sub-section (2), a transfer is disputed by a subscriber, the burden of proving that the Foreman was in solvent circumstances at the time of the transfer and that the transfer is not likely to affect prejudicially the interest of any such subscriber shall lie upon the transferee.
