ALBERT C. RITCHIE, GOVERNOR. 945

ing of the members to take action upon any practice of the
corporation, which in the opinion of the committee is unsafe
and unauthorized.

SEC. 13. The capital of a credit union shall consist of the
payments that have been made to it by the several members
thereof on shares. Shares may be subscribed for and paid in
such manner as the by-laws may provide. The credit union
shall have a lien on the shares of any member and upon any
dividends payable thereon for and to the extent of any loan
made to him and of any dues and fines payable by him. Upon
resignation or expulsion of a member a credit union may cancel
the shares of such member and apply their withdrawal value
towards the liquidation of said member's indebtedness. A
credit union may, if the by-laws so provide, charge an entrance
fee and also a transfer fee, neither of which fees shall exceed
twenty-five cents.

SEC. 14. Shares may be issued and deposits received in the
name of a minor and in trust in such way and manner as the
by-laws may provide.

SEC. 15. For failure by any member of a credit union to
meet his payments on shares when due, or to make repayments
on a loan when due, such fines and other penalties may be im-
posed upon such delinquent member as the by-laws may pro-
vide.

SEC. 16. Any capital, deposits or surplus of a credit union,
in excess of the amount for which loans to members shall be
approved by the credit committee, may be deposited in savings
banks or trust companies, organized under the laws of Mary-
land, or in national banks located therein or may be invested
in any investments legal for savings bank in the State.

SEC. 17. A credit union may loan to its members for such
purposes and upon such security and terms as the by-laws shall
provide and credit committee may approve, except mortgages
secured by loans on real or leasehold property, but security must
be taken for any loan in excess of fifty dollars. An endorsed
note or the assignments of shares in any credit union, may be
deemed security by the credit committees within the meaning
of this Act. A member who needs funds with which to pur-
chase necessary supplies for growing crops may receive a loan