SPIRO T. AGNEW, Governor                      1349

147.    Payments of bonuses or assessments by new members.

Any person applying for membership, or for stock in any such
[corporation] association, after the end of one month from the time
of incorporation, may be required to pay, on subscribing, such bonus
or assessment as may from time to time be fixed or assessed, in such
manner as may be provided by the [corporation] association, in order
to place such new member or stockholder on a footing with the original
members and others holding stock at the time of such application.

148.    Shares held by minors and by minor and adult jointly.

(a)  Whenever any shares in [a building or homestead] an as-
sociation are held in the name of any minor or minors, which term
includes any male or female under the age of twenty-one years, the
same shall be held for the exclusive right and benefit of such minor
or minors and free from the control or lien of all persons whatsoever,
except creditors, and shall be paid, with any dividends due thereon,
to the person or persons in whose name or names the shares are held,
and the receipt of such minor or minors shall be a sufficient release or
discharge for such shares to the [homestead or building] asso-
ciation.

(b)  Whenever any shares in [a building or homestead] an asso-
ciation are held in the name of any minor or minors and also in the
name of an adult, the interest of such minor or minors shall be held
for the exclusive right and benefit of such minor or minors and shall
be free from the control or lien of all persons whatsoever, except the
interest of the adult who also has an interest in said shares and
except creditors, and shall be paid, with any dividends due thereon,
to the persons in whose names the shares are held, and the receipt of
the minor or minors, as the case may be, and the adult shall be
sufficient release or discharge for such shares to the [homestead or
building] association.

149.    Advances on purchases of stock; security for indebtedness.

[Such corporation] (a) An association at any time in advance
of the period of time at which it may cease to exist, according to the
plan contained in the original articles of association, may advance to
any member thereof, for such premium as may be agreed upon, the
sum which he would be entitled to receive upon the dissolution of the
corporation, or the maturity of the series to which be belongs, when
said [corporation] association has more than one series of stock,
for any number of shares therein held, or may purchase from any
member thereof the share or shares of stock held by him, at such
price or sum as, according to the articles of association, such member
may agree to receive, or instead of receiving the whole amount of said
premium (in advance or deducting the whole amount of said pre-
mium) from the amount of said advance, the borrower may pay the
same in weekly, monthly or such other instalments as may be agreed
upon; and on payment of said sum of money, may receive from such
member security as mentioned in [Section 150 of this article,] subsec-
tion (b) of this section for the payment by such member to such
[corporation] association, of the unpaid instalments and unpaid pre-
miums, to be paid on the share or shares of stock so sold or redeemed,
together with interest at the rate of six per cent per annum on the sum
so paid or advanced, at such times and subject to such fines and pen-
alties for the nonpayment thereof as may be prescribed in the