School District No. 1 v. Teachers' Retirement Fund Ass'n

The defendant, The Teachers’ Retirement Fund Association, hereafter referred to as the association, was incorporated in 1912 as an Oregon nonprofit corporation, pursuant to chapter 280, Oregon Laws, 1911, now section 35-2701, Oregon Code 1930, et seq. By virtue of section 35-2706, Oregon Code 1930, as amended in 1929, all teachers employed by the plaintiff, hereafter referred to as the district, after July 1, 1929, automatically became members of the defendant association.

By section 35-2707, Oregon Code 1930, the district is bound to pay to the association such sums of money as may be…