Woods v. Wichita Falls Building & Loan Ass'n

This is a suit by appellant for the sum of $19,000, being the withdrawal value of two certificates of shares in appellee association. The notice of withdrawal of such value was given on November 29, 1930. The appellee was allowed a year within which to pay same. It did not pay. On a trial the district court found that the appellee "is insolvent."

Section 47 of chapter 61, Acts of Second Called Session of the 41st Legislature, provides: "No building and loan association shall permit any member to withdraw any portion of his investment in excess of $500.00 in any one month without thirty days…