ART. 23] DEALING WITH MEMBERS. 585

1888, art. 23, sec. 102. 1868, ch. 471, sec. 91.
1291 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 corporation, and such convey-
ances shall be as good and sufficient as if made to such corpo-
ration; and all the liabilities and obligations of, by and
between the members of such incorporated association of per-
sons shall remain of as binding force or effect as if such

association had been incorporated from the first.

Ibid. sec. 103. 1868, ch. 471, sec. 92. 1872, ch. 178. 1904, oh. 239.
130. 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 personal property
or for buying, selling, leasing or otherwise dealing in land, and
such corporation may, by their by-laws, provide for the pay-
ment 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, stock-
holders 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 corporation and the member or borrower, and either to
deduct such premium or bonus in advance, or to make the same
payable with and 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 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 unre-
deemed shares of its stock so sold by such member; and said
mortgage or hypothecation shall be conditioned for the repay-
ment by such member or borrower to said corporation of the