Ottawa Mutual Loan & Savings Ass'n v. Merriman

The opinion of the court was delivered by

Mason, J. :

The Ottawa Mutual Loan and Savings Association is a corporation organized under the laws of Kansas, having for its object “the accumulation and loan of funds, the erection of buildings and the purchase of real estate for the benefit of its members.” Its organization conforms in general to the usual’ building and loan association plan, some of its features, however, being peculiar. Geo. O. Merriman, a resident of Michigan, paid to the association at various times from 1890 to 1897 sums amounting in all to $4500, receiving for each $100 so…