Le Mars Building & Loan Ass'n v. Burgess

Appellant is a building and loan association organized under the laws of this state. Tn May, 1895, it issued to the appellee Matilda A. Burgess a certificate for nine shares of Class D installment stock, on which she agreed to pay fifty cents per share per month. In September of the same year she borrowed of the appellant $900, giving her note therefor, and securing it by a mortgage on real property and by pledge of her shares of stock. The note stipulated for the payment of interest at the rate of eight per cent, in the manner provided by the articles of incorporation and by-laws of the…