266 ARTICLE 23.

dollar per share per week; and the times at which the same shall be
payable.

This section referred to in upholding constitutionality of sec. 131—see notes
thereto. Carozza v. Federal Finance Co., 149 Md. 246.

This section does not authorize the charging of entrance fees to borrowing
members only, nor a variety of entrance fees, nor any entrance fee unless
there is a provision in the charter fixing the amount of the fee. Ehrhart v.
Bldg. & Loan Assn., 157 Md. 43.

Cited but not construed in Watson v. Loan & Savings Asso., 158 Md. 343.

162.

Cited but not construed in Watson v. Loan & Savings Asso. 158 Md. 341.

An. Code, 1924, sec. 165. 1912, sec. 138. 1904, sec. 126. 1888, sec. 99. 1868, ch. 471,

sec. 88. 1880, ch. 351. 1894, ch. 321. 1904, ch. 240. 1916, ch. 312.

1929, ch. 226, sec. 165 (p. 720). 1933, ch. 26. 1933 (Special

Sess. ), ch. 62. 1985, ch. 567.

165. The payment of the unpaid installments and the premiums on the
share or shares so purchased or redeemed, with interest on the money paid
therefor, as aforesaid, and all fines and penalties incurred in respect there-
of by any member, shall be secured to such corporation, by mortgage on
real or leasehold property, or by the hypothecation of stock of such corpo-
ration held by such member or by judgment of a court of law or by a jus-
tice of the peace or by a decree of a court of equity all as may be provided in
the articles of association or by-laws; but in no case of hypothecation of
stock no greater sum of money shall at any time be drawn out by any mem-
ber than shall have been already paid in by him on all his shares at the
time of said hypothecation, and all homestead or building associations or-
ganized under the laws of this State are hereby prohibited from investing
in any other manner than in cash, fixtures, or loans on hypothecated stock
of such association, judgments or decrees for payment of money received
by courts in this State, mortgages on real or leasehold estate situate in this
State, bonds of this State and bonds or other obligations of, or guaranteed
as to principal and/or interest by, the United States. And any homestead
or building association incorporated under the laws of this State shall, in
addition to the foregoing, have full power to become a member of, or stock-
holder in the Federal Home Loan Bank in the district of which the State
of Maryland is a part, and to that end to purchase stock in, or securities of,
°or to deposit money with such Federal Home Loan Bank, and to comply
with all conditions of membership or credit in such bank; to borrow money
from such bank and to pledge security therefor, including the right to
repledge the shares of stock pledged as collateral security without securing
the consent of the owner thereof, in accordance with, and to function under
the terms of an Act of Congress entitled the "Federal Home Loan Bank
Act, " approved July 22, 1932, or any amendments thereto, including the
rules and regulations promulgated thereunder by the Federal Home Loan
Bank, insofar as said Act or amendments thereto, or rules and regulations
thereof apply to homestead or building associations.

In addition to the powers hereinbefore enumerated any homestead or
building association incorporated under the laws of this State shall have