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TERMINATING BUILDING SOCIETIES

TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed.

Societies, in England, where the members commence their monthly contributions on a particular day, and continue to pay them until the realization of shares to a given amount for each member, by the advance of the capital of the society to such members as required it, and the payment of interest as well as principal by them, so as to Insure such realization within a given period of years. They have been almost superseded by permanent building societies. Wharton.

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