Hensel v. International Building & Loan Ass'n

HENRY, Associate Justice.

The appellee was a corporation for the-purpose of conducting the character of business suggested by its name, and Martin Rischki was one of its shareholders.

Among others, the charter and by-laws of the corporation contained the following provisions:

Article 7 of the charter provides, that “ at each meeting the money in the treasury shall be offered for loan in open meeting, at a rate of interest not to exceed 8 per centum per annum,” etc.

Section 8 of the by-laws provides, that “ each stockholder, for each and every share of stock held by him in the association, shall…