CHAPTER 178.
AN ACT to repeal section ninety-two of the Acts of
eighteen hundred and sixty-eight, chapter four hundred and seventy-one, relating to corporations, and
to re-enact the same with amendments.
SECTION 1. Be it enacted by the General Assembly of
Maryland, That section ninety-two, of the Acts of
eighteen hundred sixty-eight, chapter four hundred
and seventy-one, relating to corporations, be and the
same is hereby repealed, and re-enacted to read as
follows:
SEC. 92. That the provisions of the foregoing sec-
tions, from section eighty-four to section ninety-one
inclusive, shall be taken and held to apply to corpora-
tions which have been or may hereafter be formed
in this State, under the provisions of this article, for
the purpose of loaning money in real or personal
property or for buying, selling, leasing or otherwise
dealing in land, and that such corporation may by
their by-laws provide for the payment of all or any
part of their stock in advance, and shall have the
power to enforce the payment of all dues, legal in-
terest or premium due to such corporation from its
members, stockholders or borrowers, by such fines
and forfeitures as the directors may from time to time
provide in its by-laws, and it shall and maybe lawful
for any of the corporations mentioned in this section, at
anytime either before or after the shares of its stock;
shall have been fully paid up, to redeem or purchase
the same at a sum or price, as such member may
agree to receive therefor, or to loan to such member
the par value of its shares as fixed by its certificate
of incorporation for any number of shares then held
by such member, for any number of years and upon
such premium or bonus as may be agreed upon be-
tween the corporation and member or borrower, and
either to deduct such premium or bonus in advance]
or to make the same payable with and as a part of
the weekly dues in each and every week during the
period of such loan, and in the payment of such sum
of money by such corporation, then to receive from
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Repealed.
Re-enacted.
Shall be taken
and held to
apply.
Redeem
shares.
Deduct pre-
mium.
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