Pioneer Savings & Loan Co. v. Nonnemacher
Supreme Court of Alabama
7. Building and loan association; forfeiture of borrower’s stock; when borrower entitled to credit on mortgage debt for cash surrender value of stock. — When a statute of force in a fcstate, wherein a foreign building and loan association is incorporated and has its domicile, requires that whenever such association shall declare any of its stock forfeited for non-compliance with its by-laws and regulations, the holder of said stock, if it is more than a year old, shall be…
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7. Building and loan association; forfeiture of borrower’s stock; when borrower entitled to credit on mortgage debt for cash surrender value of stock. — When a statute of force in a fcstate, wherein a foreign building and loan association is incorporated and has its domicile, requires that whenever such association shall declare any of its stock forfeited for non-compliance with its by-laws and regulations, the holder of said stock, if it is more than a year old, shall be allowed the withdrawal value of said stock, if a borrower from such building and loan association, after he has executed…
1Opinion of the CourtDowdell, J.
The relief sought by the bill as originally filed was the injunction, of the defendant’s proceedings to foreclose the mortgage, and to have the mortgage decreed satisfied and cancelled. The prayer for relief was based upon the averment in the bill that the mortgage debt had been fully paid off and discharged. After the testimony in the cause had been taken, the bill was amended. A careful analysis of the amendment does not disclose a repugnancy between it and the original bill as to the relief sought. The *544most that can. be said of it is, that it contains alternative averments as to how the…
2Cases cited14 opinions
- American Freehold Land Mortgage Co. v. SewellSupreme Court of Alabama · 1890
- Hayes v. Southern Home Building & Loan Ass'nSupreme Court of Alabama · 1899
- Falls v. United States Savings, Loan & Building Co.Supreme Court of Alabama · 1892
- Cubbedge, Hazlehurst & Co. v. NapierSupreme Court of Alabama · 1878
- Heirs v. United States Bank of PennsylvaniaSupreme Court of Alabama · 1845
9 more not listed; retrieve them via the Exa API.
3Cited by14 opinions
- Shriner v. CraftSupreme Court of Alabama · 1910
- State v. Tuscaloosa Building & Loan Ass'nSupreme Court of Alabama · 1935
- Commercial Contractors, Inc. v. United States Fidelity & Guaranty Company, Defendant-Third-Party v. R. B. Ethridge & Associates, Inc., Third-PartyCourt of Appeals for the Third Circuit · 1975
- Allen v. RiddleSupreme Court of Alabama · 1904
- Life Casualty Ins. Co. v. EubanksAlabama Court of Appeals · 1922
9 more not listed; retrieve them via the Exa API.