Chit Funds Act 1971 s 30

s 30 Production of guarantors by purchaser of chit fund amount

30. Every subscriber who is declared the purchaser of a chit fund amount must, as a condition precedent to the payment of the prize amount to him or her by the chit fund company, produce at least 2 guarantors to stand surety for the payment of the contributions due from him or her for the remainder of the chit fund period.

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