Section 10(1) in The Maharashtra Chit Funds Act, 1974
(1)Subject to the provisions of this Act and of the chit agreement, the subscribers to a chit may, by passing a special resolution at a meeting convened under section 31 -(a)alter, or add to, the provisions of the chit agreement in respect of all or any of the following matters, namely :-(i)the time at which or the place where the chit is to be conducted;(ii)the reduction of the chit amount;(iii)the continuance of the chit in accordance with the provisions of section 32;(iv)the suspension or prolongation of the chit; or(v)the termination of the chit;(b)omit the name of any approved bank specified in the chit agreement or add the name of any approved bank in the chit agreement.
