Mills v. Salisbury Building & Loan Ass'n
Supreme Court of North Carolina
This was a Civil Action heard before Cloud, J., at Cham - Tiers, in Forsythe County, on .the 24th day of May, 1876. The summons was issued on the 12th day of May, 1876, returnable to the Superior Court of Rowan County.
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This was a Civil Action heard before Cloud, J., at Cham - Tiers, in Forsythe County, on .the 24th day of May, 1876. The summons was issued on the 12th day of May, 1876, returnable to the Superior Court of Rowan County. On that day the-plaintiff 'filed an affidavit substantially as follows : 1. That the defendant is a corporate body duly created -under an Act of the General Assembly of North Carolina. 2. The plaintiff, W. J. Mills, took three shares of stock in .-said corporation, of the nominal value of six hundred dollars, and by the terms of said contract said plaintiff was paid in cash the…
1Opinion of the CourtReade, J.
We have the folio wing-statute headed, “Building Associations:”
“ Whereas, divers persons, chiefly of the industrial classes, are desirous of forming associations for the purpose of accumulating by -small periodical deposits, a savings fund, with which they may secure a homestead, and for their mutual benefit; and whereas, it is the dictate of a sound policy that the protection and encouragement of the legislature should be given to associations having in view ends and objects so commendable in their character; therefore,
1. From and after the passage of this act it shall and maybe lawful, and…
2Cited by28 opinions
- Meroney v. Atlanta Building & Loan Ass'nSupreme Court of North Carolina · 1895
- Stevens v. Home Savings & Loan Ass'nIdaho Supreme Court · 1898
- Smith v. Old Dominion Building & Loan Ass'nSupreme Court of North Carolina · 1896
- Fidelity Savings Ass'n v. SheaIdaho Supreme Court · 1899
- Simpson v. Kentucky Citizens Building & Loan Ass'nCourt of Appeals of Kentucky · 1897
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