- The foreman shall be entitled-(a)in the absence of any provision in the chit agreement to the contrary, to obtain the chit amount at the instalment specified in the chit agreement;(b)to such commission or remuneration not exceeding five per cent of the chit amount as may be fixed in the chit agreement;(c)to receive and realize all contributions from the subscribers and to distribute the prize amount to prized subscribers and the dividend amount the subscribers;(d)to demand sufficient security form any prized subscriber for the due payment of future subscriptions;(e)to substitute subscribers in the place of defaulters; and(f)to do all other acts that may be necessary for the due and proper conduct of the chit.
