Richard v. Southern Building & Loan Ass'n

The opinion of the court was delivered by

Miller, J.

The defendant appeals from the judgment maintaining in part the plaintiff’s injunction to restrain the sale of his property under the executory process obtained by defendant on the-plaintiff’s note, secured by mortgage.

The ease involves the contract of the plaintiff, a shareholder in the defendant corporation, and a borrower from it. As we gather from the record the outline of the character of these building and loan associations, the party seeking a loan becomes the owner of the shares of the association to an amount double the amount of the…