ART. 26.] CORPORATIONS.

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entrance fee to be paid by each stockholder at the time
of subscribing; to regulate the instalments to be paid

Entrance fee

on each share; provided, the same shall not exceed the:

Proviso.

sum of one dollar per share, per week; and the times
at which the same shall be payable.

Instalments.

. 85. Any such corporation shall have power to en-
force the payment of all instalments and other dues
due to the corporation from the members or stock-
holders, by such fines and forfeitures as the corpora-
tion may from time to time provide in the by-laws or
articles of association of such corporation.

Power to en-
force payment
of instalments
or dues.

86. Any person applying for membership, or for
stock in any such corporation, after the end of one
month from the time of incorporation, may be 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 holding
stock at the time of such application.

Bonus or as-
sessment on
new member or
stockholder.

87. Such corporation may, at any time in advance
of the period of time at which such corporation may
cease to exist, according to the plan contained in the
original articles of association, advance to any mem-
ber thereof, for such premium as may be agreed upon,
the sum which he would be entitled to receive upon
the dissolution of the corporation, for any number of

Power to ad-
vance.

shares therein held; or may purchase from any mem-
ber thereof the share, or any number of shares, of the
stock held by him, at such price or sum as, according
to the articles of association such member may agree to
receive, and on payment of said sum of money may re-

To purchase.

ceive from such member, security as mentioned in the
next succeeding section of this article, for the payment
by such member to such corporation of the unpaid in-
stalments to be paid on the share or shares- of stock
so sold or redeemed, together with interest at the rate
of six per cent, per annum on the sum so paid or
advanced, at such times and subject to such fines
and penalties for the non-payment thereof as may be

Security.