CORPORATIONS. 727

An. Code, sec. 141. 1904, sec. 129. 1888, sec. 102. 1868, ch. 471, sec. 91.

168. Any trustee or trustees, person or persons, to whom any such
conveyances shall have been made to and for the use of such incorporated
association, may be required to assign and transfer the same to such cor-
poration, and such conveyances shall be as good and sufficient as if made
to such corporation; and all the liabilities and obligations of, by and between
the members of such incorporated association of persons shall remain of as
binding force or effect as if such association had been incorporated from
the first.

This section referred to in construing sec. 164—see notes thereto. Williar v.
Baltimore, etc., Loan Assn., 45 Md. 562.

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

An. Code, sec. 142. 1904, sec. 130. 1888, sec. 103. 1868, ch. 471, sec. 92. 1872, ch. 178.

1904, ch. 239.

169. The provisions of the eight foregoing sections shall be taken and
held to apply to corporations which have been or may be hereafter formed
in this State, under the provisions of this article, or under the provisions
of any acts of assembly, for the purpose of loaning money on real or per-
sonal property or for buying, selling, leasing or otherwise dealing in land,
and 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 interest or premium due to such corporation
from its members, stockholders or borrowers by such fines or forfeitures as
the directors may from time to time provide in its by-laws; and it shall and
may be lawful for any of the corporations mentioned in this section, at any
time, either before or after the shares of its stock shall have been fully
paid up, to redeem or purchase the same at such 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 or borrower, and either to
deduct such premium or bonus as may be agreed upon between the corpora-
tion and the member or borrower, and either to deduct such premium or
bonus in advance, or to make the same payable with an.d 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
such a 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 the hypothecation of unredeemed shares of its stock so sold by such
member; and said mortgage or hypothecation shall be conditioned for the
repayment by such member or borrower to said corporation of the money
loaned or advanced to him in weekly instalments, including dues, legal
interest on the money so advanced or loaned, the weekly premium 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 law-