Section 5
SEC. 5. Section twenty-eight of Act Numbered Twenty-five hundred and eight is hereby amended to read as follows : "SEC. 28. The by-laws shall determine the qualifications for membership, the form of admission and expulsion, the form of appeal against a resolution refusing admission, and the form of withdrawal from membership. The death of a member shall be considered a withdrawal from membership. "Each member shall be a resident of the municipality in which the association is organized, and shall have the reputation in the locality of being honest and industrious. "Nonresidents may, however, be permitted to buy shares in any Agricultural Credit Cooperative Association, but they shall not enjoy the right to borrow money from the said association, nor shall they be allowed to vote in any meeting nor be elected to any office therein. "Nothing in this law shall preclude any officer or employee of the Government, be it national, provincial or municipal, from holding office or being elected to any office in any association or from receiving compensation therefor."