Mott v. Guardian Building & Loan Ass'n

The Guardian Building & Loan Association, hereinafter referred to as the Guardian, is a corporation duly organized under the laws of the state of Oregon relating to such associations: Oregon Code 1930, section 25-301, et seq. Under its articles of incorporation, its authorized capital is $10,000,000, divided into 100,000 shares of the par value of $100 each. It is authorized to carry on the business of a building and loan association, or savings and loan association with power, among other things:

“To receive money and execute debenture certificates therefor, not to exceed the amount of…