Raising Capital: Powers same as Federal Savings

Associations. Mutual Savings and Loan Associations organized and operating under this title may raise capital in the form of such savings deposits, shares or other accounts to the same extent that a federal savings and loan association doing business in this territory could raise capital (whether or not such association is doing such business). The account holders or depositors of such a mutual association shall be members of the association and shall have such rights and obligations as are possessed by members of at federal savings and loan association that is doing business in this territory (whether or not such association is doing such business). The term mutual savings and loan association is hereby defined to mean a savings and loan association that is incorporated without provisions for the issuance of stock.