State Bonded Audit Bureau, Inc. v. Pomona Mutual Building & Loan Ass'n

This is an appeal by plaintiff from a judgment for defendant in an action by the assignee of a depositor in a building and loan association to recover from the association a sum equal to the difference between interest on his deposits at the rate called for by his certificates and the interest actually paid him at a lesser rate pursuant to a statute enacted during a period of national emergency. The certificates involved herein were all issued prior to March 10, 1933, and each declares that the “principal sum shall bear dividends from the date of issue hereof, at the rate of Six Per Cent…