Kupski v. BAL INVESTMENT CO.

On March 4, 1969, Avco Security Corporation sold, assigned, and transferred, for a valuable consideration, a mortgage to the defendant, which covered the vendee’s interest in a land contract dated October 17, 1966, made by plaintiffs to Budman’s, Inc.

Defendant did not file its 1965 Annual Beport and fees, which were due on May 15,1965, in consequence of which its charter was suspended on May 25,1965, 1 and became void on May 15, 1967. 2 On August 11, 1969, the defendant filed its annual report and paid the fees, and its charter was reinstated on that date. 3

On April 10, 1969, while its…