Section 8
SEC. 8. A member may withdraw from an association only in the manner and under the conditions prescribed in the by-laws of the association. A withdrawing member shall not be permitted to demand the sums paid in on his shares of stock in the association if such demand would in any way embarrass the association. In case a member withdraws from the association, there shall be forfeited to the association such part of the accrued dividend on each unmaturing share of such member as may be fixed in the rules and regulations to be issued by the Philippine National Bank. A withdrawing member shall be liable for a proportionate share of the losses and obligations of the association in connection with operations effected during the period of his membership. CAPITAL STOCK AND SURPLUS RESERVES