ART. 23.] CORPORATIONS—BUILDING OR HOMESTEAD. 313

corporation, 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.

Geiger v. 8th German Bldg. Ass'n, 58 Md. 569.

1868, ch. 471, sec. 87.

98. Such corporation, at any time in advance of the pe-
riod of time at which it may cease to exist, according to
the plan contained in the original articles of association, may
advance to any member 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 shares
therein held; or may purchase from any member 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 receive 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 instalments to
be paid on the share or shares of sfock 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 pre-
scribed in the articles of association or in the by-laws.

Oak Cottage v. Eastman, 31 Md. 556. Davis v. West Saratoga Bldg. Ass'n,
32 Md. 285. Williar v. Balto. Batchers' Ass'n, 45 Md. 546. St. Peters' Bldg.

Ass'n v. Jaecksch, 51 Md. 198. Border State Bldg. Ass'n v. McCarthy, 57

Md. 560.

Ibid. sec. 88. 1880, ch. 351.

99. The payment of the unpaid instalments 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

thereof by any member, shall be secured to such corporation by
mortgage on real or leasehold property, or by the hypothecation

of stock of such corporation held by such member, as may be
provided in the articles of association or by-laws; but in case of
hypothecation of stock, no greater sum of money shall at any