932

LAWS OF MARYLAND.

entrance fee to be paid by each stockholder at the
time of subscribing ; to regulate the installments
to be paid on each share, provided the same shall
not exceed the sum of one dollar per share per
week, and the times at which the same shall be
payable.

Enforce
payment on
stock.

Sec. 85. And be it enacted, That any such cor-
poration shall have power to enforce the payment
of all installments and other dues due to the cor-
poration from the members or stockholders, by such
fines and forfeitures as the corporation may from
time to time provide in the by-laws or articles of
association of such corporation.

Bonus on
assessment.

Sec. 86. And be it enacted, That any person ap-
plying for membership, or for stock in any such
corporation, after the end of one month from the
time of incorporation, may be required to pay on
subscribing such bonus or assessment as may from
time to time be fixed or assessed, in such manner
as may be provided by the corporation, in order to
place such new member or stockholder on a footing
with the original members and others holding
stock at the time of such application.

May advance.

Sec. 87. And be it enacted, That such corporation
may, at any time in advance of the period of time
at which such corporation may cease to exist accord-
ing to the plan contained in the original articles of
association, advance to any member thereof, for such
premium as may be agreed upon, the sum which he
would be entitled to receive upon the dissolution
of the corporation, for any number of shares therein
held ; or may purchase from any member thereof
the share, or any number of shares, of the stock
held by him, at such price or sum as, according to
the articles of association such member may agree
to receive, and on payment of said sum of money,
may receive from such member, security as men-

Security.

tioned in the next succeeding section of this Ar-
ticle, for the payment by such member to such cor-
poration of the unpaid installments to be paid on
the share or shares of stock so sold or redeemed,
together with interest at the rate of six per cent,
per annum on the sum so paid or advanced, at such
times and subject to such fines and penalties for
the non-payment thereof as may be presented in
the articles of association or in the by-laws.