People's Loan & Homestead Ass'n of Joliet v. Keith

The main question involved in this case, as presented by the record, is whether section 11 of the act relating to homestead loan associations, as amended in 1887 and 1891, is, valid. That section is as follows : “Corporations organized under this act being of the nature of co-operative associations, therefore no interest, premiums, fines nor interest on such premiums that may accrue to said corporation according to the provisions of this act shall be deemed usurious, and the same may be collected as other debts of like amount may be collected by law in this State; and all money paid to such…