State v. J. Bodenger Realty Co.

PONDER, Justice.

This is an appeal from a judgment declaring Act No. 8 of 1932 to be unconstitutional insofar as it seeks to make the corporation franchise tax prime a preexisting lien and mortgage.

It appears from the agreed statement of facts in the record that the Suburban Building and Loan Association, now the Union Savings and Loan Association, sold to the J. Bodenger Realty Co., Ltd., nine tracts, or parcels, of land situated in the City of New Orleans on June 12, 1929, for the consideration of $10,000 represented by a promissory note. The Association retained a vendor’s lien on the…