An affidavit or solemn declaration in writing that the declarant is a director of the Bank and that a share in the Bank has been duly forfeited on a date stated in the declaration, and the receipt of the Bank for the consideration given for the share on the sale or disposition thereof shall constitute a good title to such share, and the person to whom the share is sold or disposed of shall be registered as the holder to the share and shall not be bound to see to the application of the purchase money, nor shall his or her title to the share be affected by any irregularity or invalidity in the proceedings in reference to the forfeiture, sale or disposal of the share.