Commerce-Guardian Trust & Savings Bank v. State

The purpose of the act in question (Act No. 91, Pub. Acts 1911) and the causes which led to its enactment are set forth very clearly in Union Trust Co. v. Detroit Common Council,170 Mich. 692, and Economy Power Co. v. Daskam, 174 Mich. 402. In the former case, the fact that the mortgage interests of residents of the State under the prior law were "concealed from assessing officers by putting them in the names of nonresidents" was pointed out, and in the latter it was said that —

"Primarily the legislation was doubtless enacted to correct an alleged economic fallacy, and secondarily to…