Miers v. Columbia Mut. Building & Loan Ass'n

HAZEL, District Judge.

The master in chancery has correctly passed upon the objections of the claimant, and his report must be confirmed. The right of a stockholder in a building and loan association to withdraw his installment shares is derived from its by-laws or statute. The by-laws of the respondent association give a member the right to withdraw at any time after one year upon giving 30 days’ notice in writing to the secretary, and thereupon such withdrawing shareholder becomes entitled to receive the full amount paid to the association on his shares, together with interest, less his…