The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1868-01-11

Three weeks ago We told orr readers that
We would present them draft Of II Building
Snciety. which in our or;,;or would hs =.
ID, ". r :. -. .,:.,
h''u7'' nc we're oeiaEeu III 'S Fr'p"F"'ioh
ny Inc want oi detailed information, which
being now procured. we lay it before our
readers. We think the laws below. together
with who, h,s koo, ,,hl;,hoa 49, an
r'n.
'1''s captain the ha'ure ana workings o.
these societies:
pyI,ws
TIe-~lhis ASSOCIATION shall be known a.
the - building Association.
Otysct-l lie Association shali have for its
o'Jecl 'ne accumulation of II fund from the
mouth.y dues, tines, premiums on loans, and
interest on investments of is members to
enable hem to engage III business, build
and purchase houses, or such other property
as mny seem advantageous 10 the officers.
>harcs u he number OF shares issued shall
not exceed one thousand.
'S'0ckhotde's i he stockholders shall he
persons OF t"en,y'one years OF age and up
wards. Married women may be stOckhO!d-
ers
CWreFS-- he officers she'll be President,
zee PRESIDENT Secretary, Treasurer, nine
Directors, ana an Attorney; all OF whom
Nha!! he Stockholders, and continue in office
TIL ,helr successors are elected.
NeehHgs-l he annual meetings Of the
siocAh"lders shall be held oil the second
TUESDAY OF hrHi IN each year. Special
meetings shall be called by the Secretary, al
.he written request OF Ten stock holders, stat
'uo me tune ana object ct such meeting. -
Inc hour 81 meetings shall be = clock ;
and seven members %haIl constitute quo
rum
monthly meetings OF the Board Of Direct
ofs shiu' ne heid on The second tuesday OF
eaeh 'uo"!n, Tor me purpose OF receiving
me uHt7, INTEREST &c, Tor ivanlng out t.
ne members the accumulated funds Of this
AH'"e'a':o,'' eeFtGaoiy 10 tue PROVISIONS OF
IAeae aF''Sits' ana 'or The TRANSACTION OF oil
o'her. matters necessary. and requisite iol
eaF0hs On ihe ASSOCIATION HE time tor
Payments !or mat month shall terminate Is
40" 10 'ne oeSfT"i! s'AI! nave waited upon
VI present, az! 'eI1 me pace OF Meeting
All 'Hese meetings. Shai. pe p4Ghc, aad ms
general pGUceca'hgs OF Tue board OF Di'
| FccIo's si'"" be always open to the inspec'
Aon OF tue ochho!dcTS:
'"ieS'--,acn stockhoIder personally pres
en' ~ an etGct|oh snail nave one vote, and
no more lFansiera OF stock to enable Il
| person 70 vote, must ne 'nsde at least thirty
DAYS previous 10 an e!cctioA,
D"cS--Lacn stockho!deT, for each and
| every 'n"te Vi StoCh th"' ne or ahe Mods IL
| |nf As"oc'a"Gh, Sus'i pay the sum OF ont
| 0oIi"i, III e'Go 7na every month, on tbs
! StIo"u lutsu"'' W me treasurer, or suci
2IhGF person ~ !nay De authorized by The
by Laws 70 receive the same
A""nSIENerS s:ochhoiuef, ior chch share
Oh S!9cA pesu py MN OF Her, snail uo entitled
20 !""n u w" guhuFeu collars, whenever
| ne iuhds ~ tHe treasury snail warrant
| Soeh loan however sinai! not be made under
par, IL more Ihah one application Shall be
MAGE, al any ohe ume, Tor loan, such oar
| sna'' he AWARDED 10 the applicant who will
| give mo hi4heSt premium Tor Tho same al
aucUoh'
whenever any s'ockhoider shat! have bid
s"cce'SInl'?' an" De eD"IIed ~ loan, be
lore receiving snch ioan. ht shaii pay tht
, premium ouered 10 the treasurer, and shall
secure tue payment OF snet loan to the AS
sce!'t4oH y! nier'gage' ana assign Policy
oil insurance VI tne ioah be upon improved
| propeFty'I rs collateral security for such
'1ah anu "li 'ne interest OF the member II
me s'ocH st'a'' We heiu ny the society a.
'"ithe' co',aterel security 'hereior' Inc "
| rectofs snail IN all cases determine upon the
I suhclehcy oil me security. In case of fail
| ure 10 give satisfactory security Tor oar
%ithin one mohth rom the date OF ITS award
| me month interest together Will all costs
ana expenses attending the examination O.
| 'ttie ana searches ~lil De charged to the APP
| pIicaht, ana the rlght TO dispose OF such
Ioan at the next monthly meeting shall re
YeTI 10 the DIRECTORS any etocAholder, en-
!hied 10 ipe amount OF money he apple
.or' "Alctl amount may De gFeAter than that
IN inc rea'Nry al me lime, shall be entitled
10 nave 'ne a!uoo:.t mace up out OF the neX'
moneys coming INTO me treasury, at tbs
same rate OF premium but no stockho!dei
sH"'' DC 'I u tt ~ lo"n VI noFe IMAM TWO
'houShpu uo'IHlH III a"J one year, II there Is
any o''ipi aPPt''onI ioI ioan' no STOCK
"o'ueI eiL@.i We tu''.'eu 10 iohh VINO Is IN
"lFGa,S W ,ne Aesoe'at!op' anu no property
| sna,l DC taken aS security ior looms Out o.
! Ncctl county, unless ny unanimous consent
! " the directors heheVer' at any time,
! 'Ae moneys cease 20 hFihg q premium, any
stoGNAolGe'' no. having taken loans equal
70 'he ta'"e " ms SUCK AZ Such 'iInc, may
| ID inc o'scTeu0h OF 'He board OF DIRECTORS
DC required 10 pofro" on MS stoek, without
| premium 'he one SO required to be decided
oy iol ''om n among !he proper cinss,1-non'
~ 'aAo WV :" .'i'? n"',"t ~ ali nave
'eAGn "..tn' i'e"i in''ttS' snail DC pa'd on
d.i .Ga" $500 ~ ..o,S u'1n'ni! Tcotine' anu u
anp l lV ~ ;'o n'JVy."Is my