Mechanics & Traders Savings, Loan & Building Ass'n v. Vierling
Appellate Court of Illinois
Foreclosure Proceedings.—Appeal from the Circuit Court of Cook County; the Hon. Murray F. Tuley, Judge, presiding. Heard in this court at the October term, 1896.
1Opinion of the CourtJustice Gary
The appellee Frank 0. Vierling was a holder of stock in, and a borrower from, the association, which is a corporation under “ An act to enable associations of persons to become a body corporate, to raise funds to be loaned only among their members,” approved April 4, 1872. The-second section of the act provided that “as soon as 100 shares or more of the capital stock shall be subscribed, the commissioners shall convene a meeting of the subscribers for the purpose of electing directors, adopting a charter and by-laws,” and other business.
Two by-laws of this association are as follows:
“ Section…
2Cases cited1 opinion
- Wetherell v. Thirty-first Street Building & Loan Ass'nIllinois Supreme Court · 1894
3Cited by1 opinion
- Bertche v. Equitable Loan & Investment Ass'nSupreme Court of Missouri · 1898