Petroleum Lease Properties Co. v. Huse

This action was instituted by the plaintiff, under the declaratory judgment act (Rem. Rev. Stat. (Sup.), § 784-1 [P. C. § 8108-21] et seq.), to have the court pass upon the validity of chapter 182, Laws of 1937, p. 711, Rem. Rev. Stat. (Sup.), §§ 5853-2, 5853-22 [P. C. §§ 482-5, 482-26], amending chapter 69, Laws of 1923, p. 207, Rem. Rev. Stat., § 5853-1 [P. C. § 482-5] et seq., known as the securities act, providing for the regulation and supervision of the issuance and sale of certain securities as defined in the act.

In its second amended complaint, the plaintiff alleged that it is the…