PHILIP F. THOMAS, ESQUIRE, GOVERNOR.

1849.

him by the society, without any deduction on account
of the premium paid for the loan, the directory shall
proceed, according to law, to have the mortgaged pro-
perty sold, for the re-payment of the principal and in-
terest of said loan, and all fines that have accrued for
the defaults of the member in paying Ins weekly con-
tributions.

CHAP. 499.

SEC. 14. And be it enacted. That every member that
fails to pay his weekly contributions regularly, shall
be fined, for every share on which he is in default,
the first week, six and one-fourth cents, the second
week, twelve and one-half cents, the third week,
eighteen and three-fourth cents, the fourth week,
twenty-five cents, the fifth week, thirty-one and one-
fourth cents, and for every following week, thirty-
seven and one-half cents; when the sum of the fines
due on any share shall amount to as much as the
weekly contributions that have been paid on the same,
such share shall be forfeited, and all right and title to
it shall belong to the society.

Fines, etc.

SEC. 16. And be it enacted, That any member that
has not taken any loan from the society, may transfer
his shares to any other member; shares may also be
transferred to such persons as have been accepted as
members by the society, and have paid their initiation
fees.

Transfers reg-
ulated.

SEC. 16. And be it enacted, That any member that
wishes to withdraw from the society shall notify the
directory, in writing, of his intentions, and the direc-
tory shall, within a month after the receipt of such
notice, pay to said member all the contributions which
said member may have paid, after deducting for the
losses which the society may have suffered.

Withdrawal.

SEC. 17. And be it enacted, That in case a member
should die, that has received no loan from the society,
his lawful executors or administrators shall succeed to

Revert to exe-
cutor, etc.

all his rights in the society; provided, they will com-
ply with its laws and conditions; but if they shall not
elect to do so, the directory shall pay them, according
to section sixteenth above, all the contributions that
the deceased has paid to the society, which payment
shall extinguish all the rights of the deceased in said
society; but if a deceased member shall have received
a loan from the society, his legal representatives shall
be liable to the same payments, duties and fines, as
their intestate or testator, as the case may be.

Proviso.

SEC. 18. Be it enacted, That every officer who
is absent from any meeting of the society, or of the
directory, shall pay a fine of twenty-five cents, unless

Attendance.