First State Bank of Harvard v. Harrington

May a foreign corporation that has not complied with the provisions of sec. 226.02, Stats., make a loan outside of this state, and payable to it outside the state, to a resident of the state, and validly secure the same by a mortgage on property of the borrower located within the state? The answer to the question depends upon the meaning of sec. 226.02 as it now stands. The section has been amended several times and a number of cases bearing on the construction given it previous to the amendment of 1915 have been cited to us by both appellant and respondent. Inasmuch as we place our decision…