Cook v. Kent
Massachusetts Supreme Judicial Court
Bill in equity by the husband and three sons of Lucina Cook to redeem land in Hendon from a mortgage given by her and her husband to the Mill River Loan Fund Association, and by it assigned to the defendant.
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Bill in equity by the husband and three sons of Lucina Cook to redeem land in Hendon from a mortgage given by her and her husband to the Mill River Loan Fund Association, and by it assigned to the defendant. The case was referred to a master, and the material facts, as they appeared from his report and the pleadings, on which the case was reserved for the determination of the full court, were as follows: . The association was a corporation, chartered in 1854, doing business under the statutes respecting loan and fund associations, and having certain printed by-laws, the material portions of…
1Opinion of the CourtGray, J.
The nature and effect of the relations created between a loan fund association and its members under articles of association and bonds and mortgages, containing provisions like those in this case, are defined in many particulars by the express stipulations between the parties and by previous decisions of this court.
Every person becoming a member of the association pays an entrance fee, and is also obliged to pay, during the existence of the corporation, monthly dues of two dollars a share, and, in case *253of nonpayment thereof, the fines prescribed by the articles of association ; and, in…
2Cases cited1 opinion
- Hunt v. MooreMassachusetts Supreme Judicial Court · 1850
3Cited by14 opinions
- Leahy v. National Building & Loan Ass'nWisconsin Supreme Court · 1898
- Curtis v. Granite State Provident Ass'nSupreme Court of Connecticut · 1897
- Marion Trust Co. v. Trustees of Edwards LodgeIndiana Supreme Court · 1899
- Groover v. Pacific Coast Sav. SocietyCalifornia Supreme Court · 1912
- People's Building & Loan Ass'n v. McPhilamyMississippi Supreme Court · 1902
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