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The Annotated Code of the Public Civil Laws of Maryland, 1911
Volume 372, Page 596   View pdf image (33K)
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596 CORPORATIONS. [ART. 23

county is not kept in proper order and repair, the same proceedings
may be had in said court as are hereinafter provided in cases of turn-
pike or plank roads alleged not to be in proper order and repair.

Building or Homestead Associations.

1904, art. 23, sec. 122. 1888, art. 23, sec. 95. 1868, ch. 471, sec. 84.

134. Any homestead or building association, formed under the pro-
visions of this article, shall have power, in its certificate of incorpora-
tion, to limit the number of shares which each stockholder may be
allowed to hold; to prescribe the entrance fee to be paid by each stock-
holder at the time of subscribing; and to regulate the instalments 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.

This section referred to in construing section 124—see notes thereto.
Commercial Assn. v. Mackenzie, 85 Md. 143.

This section referred to in construing section 137—see notes thereto.
White v. Williams, 90 Md. 723; Commercial Assn. v. Mackenzie, 85 Md. 143;
Willlar v. Baltimore, etc., Loan Assn., 45 Md. 562.

For a case construing sections 30 to 32 of article 26 of the code of 1860, see
Lord v. Essex Bldg. Assn., 37 Md. 324.

Cited but not construed in Reus Loan Co v. Conrad, 101 Md. 225; Balti-
more Bldg. Assn. v. Powhatan Co., 87 Md. 64; International Fraternal Alli-
ance v. State, 86 Md. 554; Faust v. Twenty-third, etc., Bldg. Assn., 84 Md.
190; Middle States Co. v. Hagerstown Mattress Co., 82 Md. 513; Emory v.
State, 41 Md. 57.

Ibid. sec. 123. 1888, art. 23, sec. 96. 1865, ch. 471, sec. 85.

135. Any such corporation shall have power to enforce the payment
of all instalments and other dues due to the corporation from the mem-
bers or stockholders, by such fines and forfeitures as the corporation
may, from time to time, provide in" the by-laws or articles of associa-
tion of such corporation.

This section referred toin construing section 137—see notes thereto.
White v. Williams, 90 Md. 723; Willlar v. Baltimore, etc., Loan Assn., 45
Md. 562.

Cited but not construed in Baltimore Bldg Assn, v. Powhatan Co., 87 Md.
64; Fraternal Alliance v. State, 86 Md. 554; Faust v. Twenty-third, etc..
Bldg. Assn., 84 Md. 190; Middle States Co. v. Hagerstown Mattress Co., 82
Md. 513.

Ibid. sec. 124. 1888, art. 23, sec. 97. 1868, ch. 471, sec. 86.

136. Any person applying for membership, or for stock in any such
corporation, after the end of one month from the time of incorpora-
tion, may he 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 hold-
ing stock at the time of such application.

A bonus or assessment for "back dues," of an amount equal to the associa-
tion's regular weekly dues, counted from the organization of the association
to the time of the subscriptions, is reasonable and authorized by this section.
Home, etc., Building Assn. v. Thursby, 58 Md. 287. Cf. Gelger v. Eighth
German, etc., Assn., 58 Md. 574.

 

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The Annotated Code of the Public Civil Laws of Maryland, 1911
Volume 372, Page 596   View pdf image (33K)
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