Assets Realization Co. v. Heiden

There is and can be no serious doubt that the certificate constituting the original borrower in this case a shareholder of the International Building, Loan and Investment Union, so far as it embodies an agreement of the union to pay the holder of the certificate the full value of one hundred dollars for each of his shares of stock at the end of six years from the date of the certificate, whether such stock has matured or not, is “ inconsistent with the statute under which the corporation has its existence, and antagonistic to the legal purposes and plans of such organization, and not…