Southern Building & Loan Ass'n v. Anniston Loan & Trust Co.
Supreme Court of Alabama
Appeal from the City Court of Anniston, in Equity. Pleard before the Hon. James W. Lapsley . The original bill in this case was filed by the Anniston Loan & Trust Company against the Southern Building & Loan Association, Isaac Linsky, and O. H. Parker, as assignee of Isaac Linsky; and sought to redeem from a mortgage which had been given by I. Linsky to the Southern Building & Loan Association.
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Appeal from the City Court of Anniston, in Equity. Pleard before the Hon. James W. Lapsley . The original bill in this case was filed by the Anniston Loan & Trust Company against the Southern Building & Loan Association, Isaac Linsky, and O. H. Parker, as assignee of Isaac Linsky; and sought to redeem from a mortgage which had been given by I. Linsky to the Southern Building & Loan Association. The defendant, the Southern Building & Loan Association, is a building and loan association organized under the laws of the State of Alabama in accordance with the provisions of sections 1553 to 1556,…
1Opinion of the CourtHaralson, J.
The main question in this case, as stated by the appellant, is the right and power of the* Southern Building and Loan Association to declare forfeited the shares of a borrowing member. Or, as. stated by counsel for appellees, “The cause was submitted in the court below upon an agreed state of facts, and the single point of dispute turns upon the question of the right of the Southern Building and Loan Association to forfeit the shares of stock held by it as collateral, and the refusal of said association to credit its mortgage with the value of the stock, or the aggregate amount of the…
2Cases cited5 opinions
- New York Life Insurance v. StathamSupreme Court of the United States · 1876
- Klein v. Insurance Co.Supreme Court of the United States · 1881
- Overby v. Fayetteville Building & Loan Ass'nSupreme Court of North Carolina · 1879
- Alabama Gold Life Insurance v. ThomasSupreme Court of Alabama · 1883
- Hoskins v. . Mechanics' Building Loan Ass'nSupreme Court of North Carolina · 1881
3Cited by21 opinions
- Hayes v. Southern Home Building & Loan Ass'nSupreme Court of Alabama · 1899
- Capital City Insurance v. JonesSupreme Court of Alabama · 1900
- State v. Tuscaloosa Building & Loan Ass'nSupreme Court of Alabama · 1935
- Coltrane v. BlakeCourt of Appeals for the Fourth Circuit · 1902
- Pioneer Savings & Loan Co. v. NonnemacherSupreme Court of Alabama · 1900
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