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Contributions.
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SEC, 11. And be it enacted, That every member
of this society shall pay, on Thursday evening of
every week, a contribution of fifty cents on every
share to which he may he entitled; all members who
shall hereafter be received into this society shall, lie-
fides the initiation lee of one dollar on every share
which has been paid by the original members, also-
pay for every share, all the weekly ——— that have
been paid on each share since the institution of the
society, and likewise such premium as the directory
may determine; all money paid to the society must
be in current funds.
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When entitled
to benefits, etc.
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SEC. 12. And be it enacted, That every member
shall be entitled to a loan of two hundred dollars from
the society, for every share that he holds; whenever
there are two hundred dollars in the treasurer's hands,
this sum shall be loaned to the member who will pay
the highest premium for it; but before be receives the
money, he must secure the society by a mortgage on
a house or lot, and obligate himself to pay his weekly
contributions regularly, likewise all taxes, ground
tents, insurance, and other expenses, and one-half of
one per rent, monthly, on the sum loaned, without
any deduction on account of the premium as interest;
the directory must be satisfied that the security offered
is sufficient, before it orders the treasurer to advance
the loan, and no house, lot, out of the city limits, shall
be taken as security, without the unanimous consent
of the directory; every member entitled to a loan shall
have the right to take a loan for every share that he
holds, at the same premium per share, but no mem-
ber who is in arrears to the society, shall be entitled
to a loan; in case a member shall neglect, for a month
after the purchase of a loan, to give satisfactory secu-
rity for it, the money shall be loaned by the directory
to the highest bidder, and whatever loss of premium
shall ensue, shall be paid by the member neglecting
to give security, who shall also pay one month's in-
terest on the sum which he agreed to borrow; in case
two hundred dollars shall remain for two weeks, un-
productive, in the hands of the treasurer, they shall
be deposed of in such manner as the society may
determine.
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Failure to pay
interest.
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SEC. 13. And be it enacted, That if any member
shall neglect, for the space of six months, to pay to
the treasurer, the sum of one-half of one per cent, re-
gularly every month, as interest on the sum loaned to
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