Free Home Building, Loan & Homestead Ass'n v. Edwards
Appellate Court of Illinois
Foreclosure proceeding. Appeal from the Circuit Court of Cook County; the Hon. Thomas G. Windes, Judge, presiding. Heard in this court at the March term, 1905.
1Opinion of the CourtJustice Ball
Appellant was incorporated under the Act of 1879 governing Homestead Loan Associations, and its by-laws were incorporated in its articles as a part of its charter.
The Act of 1879 provides that the corporate powers of such Associations shall be exercised by the board of directors, and that the funds of the Association shall be offered for loan in open meeting of the board and be loaned to the stock-holder who shall bid the highest premium therefor. In 1891 the Act of 1879 was amended by providing: “That any such association may, by its by-laws, dispense with the offering of its money for bids…
2Cases cited7 opinions
- Borrowers' & Investors' Building Ass'n v. EklundIllinois Supreme Court · 1901
- Jamieson v. JurgensIllinois Supreme Court · 1902
- Home Building & Loan Ass'n v. McKayIllinois Supreme Court · 1905
- Forsell v. SuddardAppellate Court of Illinois · 1900
- Wightman v. SuddardAppellate Court of Illinois · 1901
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