Nelson v. McAllister District Improvement Co.

Plaintiff is the holder in due course of four bonds made payable to bearer for $1,000 each, which were issued on August 1,1918, by the McAllister District Improvement Company, a corporation organized and existing under and pursuant to chapter 172, Laws 1911, as amended by chapter 101, Laws 1917. The title to this act reads as follows:

“To enable landowners to incorporate themselves for the purpose of irrigation or drainage, defining their corporate powers, regulating the manner of issuing bonds, making the debts of said corporation a lien on the land of said owners and fixing the organization…