Bohn v. Boone Building & Loan Ass'n

The defendant is a building and loan association organized under the laws of this State. Prior to July 31, 1903, the plaintiff was a non-borrowing member and holder of twenty shares .of stock in said association. On the date named, plaintiff’s shares were found to be fully paid up, the book value having become equal to the par value thereof, and he thereby became entitled to demand and receive from the association the sum of $2,000 upon the surrender of his certificate. Instead of drawing the money, however, he entered into an arrangement with the officers of the association, or with some of…