Safety Building & Loan Co. v. Ecklar
Court of Appeals of Kentucky
Case 10 — ACTION TO ENFORCE LIEN — APPEAL FROM HARRISON CIRCUIT COURT. 1. Kentucky is the only State in the Union that has failed to sustain as constitutional an act similar to the Kentucky building association law. Simpson v. The Ky. Citizens Bldg. Assn., 19 Ky.
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Case 10 — ACTION TO ENFORCE LIEN — APPEAL FROM HARRISON CIRCUIT COURT. 1. Kentucky is the only State in the Union that has failed to sustain as constitutional an act similar to the Kentucky building association law. Simpson v. The Ky. Citizens Bldg. Assn., 19 Ky. Law Rep., 1176. 2. Of the-States which, like Kentucky, had applied to these associations the statutes against usury, holding that the contract between an association and a borrowing member is simply a lending and borrowing, which States include Oonectfcut, Nebraska, North Dakota, North and South Carolina, Pennsylvania and Texas, all…
1Opinion of the Court
JUDGE HAZELRIGG
delivered the opinion ox the court.
In this case we are asked to review tbe question of usury under our building and loan statute. We have the advantage of the brief of one who is familiar, not merely with the legal aspects of his client’s cause, but familiar as well with the practical working of a successfully conducted modern building and loan association, — so successful indeed, that the association, in a long course of business, *118has never declared less than a 13 per centum dividend. The real plea offered as a reason for a revision and reversal of the Simpson case (19 Ky. L.…
2Cases cited3 opinions
- Meroney v. Atlanta Building & Loan Ass'nSupreme Court of North Carolina · 1895
- Adkins v. CommonwealthCourt of Appeals of Kentucky · 1897
- Simpson v. Kentucky Citizens Building & Loan Ass'nCourt of Appeals of Kentucky · 1897
3Cited by33 opinions
- Yeoman v. Com., Health Policy Bd.Kentucky Supreme Court · 1998
- Commonwealth v. Kentucky Jockey ClubCourt of Appeals of Kentucky (pre-1976) · 1931
- Schoo v. RoseCourt of Appeals of Kentucky (pre-1976) · 1954
- Lakes v. GoodloeCourt of Appeals of Kentucky · 1922
- James v. BarryCourt of Appeals of Kentucky · 1910
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