whether such indebtedness be liquidated or unliquidated, due or not 

 due; and the Association may withhold consent to and refuse to recognize 

 or be bound by any assignment or transfer, whether voluntary or in- 

 voluntary, so long as any indebtedness or liability subsists; and the 

 Association shall have and is given a prior lien upon and against the 

 Revolving Fund credits of any member or person to secure any indebted- 

 ness or liability to the Association from such member or person, with 

 the right to offset the same against any moneys becoming payable in 

 respect to said credits. 



Section 4. Association relies upon own records. In making payment of 

 the indebtedness represented by any Revolving Fund credits, the Associa- 

 tion may rely absolutely upon its own records and shall not be liable 

 to any person other than the person appearing by its records to be the 

 owner thereof or entitled to payment. 



Section 5. Dissolution. In the event of dissolution or winding up of 

 the affairs of the Association no money of the Association representing 

 Revolving Fund credits shall be distributed to members until the liquid- 

 ation of all assets and all other indebtedness of the Association have 

 been paid, or its payment adequately provided for. 



Section 6. No Segregation of Funds. The moneys representing the Re- 

 volving Fund credits may be commingled with and used for corporate 

 purposes, as other moneys belonging or coming to the Association; and 

 nothing herein contained shall be deemed to require that any specific 

 moneys or funds be physically segregated, or designated, or marked, 

 or set apart, or held for the Revolving Fund, nor shall the Revolving 

 Fund be deemed a trust fund held for the owners of the Revolving Fund. 



ARTICLE IX. 



Miscellaneous 



Section 1. Amendments, These By-Laws may be amended or repealed or 

 new By-Laws adopted in any of the following ways, to-wit: 



1. By the vote of at least three-fifths (3/5th) of the Directors, 

 subject to 2 and 3 below at all times. 



2. By vote of three-fourths (3/4th) of the members at a meeting there- 

 of, whether special or annual. 



3. By written assent of three-fourths (3/4th) of the members filed 

 with the Secretary. 



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