PRIVATE ACTS. 1357

generally to deal in every and all descriptions of property or
properties, personal effects, securities, mortgage bonds, certifi-
cates of indebtedness, stocks of incorporated companies, notes,
loans on bonds of the United States, or of any State, city,
county or municipality, or of any incorporated company, co-
partnership, joint stock company or individual, upon such
terms as may be agreed upon or established by said corpora-
tion.

SEC. 10. And be it enacted, That the said corporation is
hereby authorized and empowered to establish and maintain a
separate department from its other business in which it may
receive money from any individual or corporation to be paid
in fixed periodical instalments or otherwise, as may be pro-
vided by the by-laws of said corporation, and may issue certifi-
cates therefor in shares of the par value of one hundred dol-
lars each, to any amount not exceeding one million dollars par
value, and may mature the instalment shares by the accumu-
lation of a fund derived from said instalments and moneys
obtained from the investment thereof, and may declare divi-
dends on any or all of said shares; and it shall have power to
lend such funds, so paid in or accumulated, to the shareholders
or members thereof for their use and benefit in acquiring real
estate, erecting houses thereon and removing encumbrances
therefrom, and may repay to each instalment shareholder his
savings when his shares has reached par, or may repay any and
all of said funds at any time when the said corporation may
desire to repay the same. The said shares shall not be liable
for any of the obligations assumed by said corporation on
account of its other business undertakings, nor shall they par-
ticipate in any part of the earnings therefrom. And as to
the management, uses and disposition of the money received
upon the shares hereby authorized to be issued, this corpora-
tion shall possess all the powers, rights, privileges and fran-
chises granted to building or homestead associations under
article 23 of the C ode of Public General Laws of Maryland,
as now or may hereafter be in force, and shall be subject
thereto. It may also conduct in the department a mutual
savings bank business under such rules or regulations as may
be determined by the directors.

SEC. 11. And be it enacted, That for the accomplishment of
the objects mentioned in the preceding section of this Act, said
corporation shall have power to allow and pay interest on all
money received by it from said shareholders, and to loan the
same on any plan or plans of sale or allotment which may be
determined upon by the board of directors taking real estate,
the said certificate of shares or other proper security therefor,