The Takanot: Collection Week The fourth Takana a yearly collection, when all outstanding loans are to be cleared:
Takkanot (3a) -- 14, 15, 16, 17, 18, 19, 20, 21, first part
17. Yearly, on the week of
the founding of the society – Torah portion mishpatim [about
loaning to the poor] - all borrowers must pay their loan even if a
month has not passed since they took it; this is to ensure a
trustworthy accounting.
18. The money collected on
that week will be kept in a safe place by the trustee, to the name
of trustees chosen as directors of the society, or as they see
fit. The safe place will be chosen by the majority. The trustee
will put the money there until the next trustee is chosen. The
latter will receive the money as needed for granting loans.
19. Whoever does not return
the loan until the next “collection” week – his name will be
written on a board in the Beit Midrash. He will lose his
right to voice an opinion and to vote.
