(a) The capital of such association shall consist of the accumulated savings of its members which it holds, and shall be unlimited.
(b) The shares shall be issued in annual, semiannual or quarterly series, in such amounts in each series and at such times as shall be determined by the board of directors. Shares of prior series may be issued after the issuing of shares in a new series.
(c) The capital shall be divided into shares of the matured value of $200, $300 and $400 each.
(d) Prepaid shares may be issued as subscribed upon the payment by the subscriber of a lump sum and such shares shall be permitted to stand until the dividends declared and credited thereon pay the same up to their matured value.
(e) Full paid income shares may be issued as subscribed upon payment in full of the matured value thereof by the subscriber, dividends to be paid thereon at rates determined from time to time by the board of directors.
(f) Savings shares may be issued and savings share accounts maintained in connection therewith, with the approval of the directors. A passbook shall be issued to the holder of a savings share account and the association may accept payments, to be held by the association in such accounts, subject, however, to withdrawals therefrom by the holder from time to time. Each $200 of the balance from time to time in any such account shall represent one savings share. There shall be credited to each savings share account of $5 or more at every distribution date, dividends at rates determined from time to time by the directors.
(g) Shares which have not been pledged as collateral security for the repayment of a loan shall be called unpledged shares. Shares that have been so pledged shall be called pledged shares.
(h) A person shall not hold shares of a matured value in excess of $25,000.
(i) Shares of a matured value of $300 and $400 shall be available to borrowing members only.