ART. 23] ADVANCES TO MEMBERS. 583

1888, art. 23, sec. 98. 1868, ch. 471, sec. 87. 1694, ch. 321.

125. Such corporation, at any time in advance of the period
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, or the maturity of the series to
which he belongs, when said corporation has more than one
series of stock, for any number of shares therein held, or may
purchase from any member thereof the share or shares of
stock held by him, at such price or sum as, according to the
articles of association, such member may agree to receive, or
instead of receiving the whole amount of said premium (in
advance or deducting the whole amount of said premium) from
the amount of said advance, the borrower may pay the same
in weekly, monthly or such other instalments as may be agreed
upon; 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 and unpaid pre-
miums, to be paid on the shore 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 prescribed in the articles of the association or in the
by-laws, and such corporation shall have power to issue full
paid-up shares of stock to its members upon such terms as may
be set forth in its by-laws.

Oak Cottage v Eastman, 31 Md. 556 Davis v. West Saratoga Bldg
Ass'n, 32 Md. 285. Williar v. Balto. Butchers' Ass'n, 45 Md. 546. St.
Peter's Bldg. Ass'n v. Jaecksch, 51 Md. 198. Border State Bldg. Ass'n v.
McCarthy, 57 Md. 560 Faust v. Building Association, 84 Md. 190. Comm'l
Asso. v. Mackenzie, 85 Md. 142-3. Salisbury Asso. v. Wicomico Co., 86 Md.
619. White v. Williams, 90 Md. 725. Washington Bldg. Asso. v. Andrews,
95 Md. 699.

Ibid. sec. 99. 1868, ch. 471, sec. 88. 1880, ch. 351. 1894, ch. 321.
1904, ch. 240

126. The payment of the unpaid instalments and the premium
agreed upon for each share, and also all fines, assessment 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