22. Amount due to defaulting subscriber how dealt with.- When subscriber draws the prize amount the defaulting subscriber shall be entitled to recover from the foreman his contribution subject to such deduction as may be provided for in the chit agreement. The foreman shall on demand made by the defaulting subscriber and on his executing an acknowledgment duly signed be bound to pay to the defaulting subscriber the amount due to him before the dale of the next succeeding installment. If the defaulting subscriber fails to furnish the acknowledgment as aforesaid, the foreman shall, before the date of the next succeeding installment deposit in approved bank the amount due to the defaulting subscriber. The amount so deposited shall not be withdrawn by the foreman for any purpose other than for payment to the defaulting subscriber. |
