266
Repayment.
Canceled.
In force.
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LAWS OF MARYLAND.
such member a transfer of all his or her interest in
such share or shares of its stock, and also security
by way of mortgage on real or personal property,
or by hypothecation of unredeemed shares of its
stock so sold by such member, and that said mort-
gage or hypothecation shall be conditional for the
repayment by such member or borrower to said cor-
poration of the money loaned or advanced to him in
weekly instalments, including dues, legal interest on
the money so advanced or loaned, the weekly pre-
mium agreed upon for each share, and also all fines,
assessments and penalties incurred according to the
by-laws in respect thereof, and all shares of stock so
redeemed, advanced or loaned or purchased by such
corporation, shall be considered as redeemed shares,
and shall be cancelled: and it shall be lawful for such
corporation to issue an equal number of new shares
in their stead, so that the number of unredeemed
shares may always equal and never excede the num-
ber of shares fixed by the certificate of incorporation
of such corporations, and the member or members
of such corporations, so redeeming their said share
or shares of stock, shall cease to be stockholders, and
shall not be entitled to vote at any meeting of such
corporations, held for the purpose of electing direc-
tors or for any other purpose, and shall not be eligi-
ble for any of the officers of the corporation.
SEC. 3. And be it enacted, That this Act shall take
effect from the date of its passage.
Approved April 1, 1872.
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New election
district.
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CHAPTER 179.
AN ACT to lay out and establish a new election
district in Frederick county, out of the portions of
New Market District number nine and Liberty
District number eight, to be called Woodville Dis-
trict, or Election District number eighteen.
SECTION 1. Be it enacted by;] the General Assembly of
Maryland, That a new election district be laid out
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