Woods v. Wichita Falls Building & Loan Ass'n

LATTIMORE, Justice.

This is a suit by appellant for the sum of 819,060, being the withdrawal value of two certificates of shares in appellee association. The notice of withdrawal of such value was given on November 29, 1930. The appellee was allowed a year within which to pay same. It did not pay. On a trial the district court found that the appellee “is insolvent.”

Section 47 of chapter 61, Acts of Second Called Session of the 41st Legislature, provides: “No building and loan association shall permit any member to withdraw any portion of his investment in excess of $500.00 in any one month…