Bank of Loudon v. Armor

Citations

• 90 Miss. 709
• 44 So. 66

Syllabus

<p>Building and Loan Associations. Loans. Accountings. StocJc dues. Usury.</p> <p>A true building and loan association, issuing stock to its members, and exacting stock dues in good faith and not as a cloak for usury, is not to be charged with payments made on such dues in an accounting with a borrowing member, where the inquiry is whether the loan to him was usurious.</p>