Beach v. Co-operative Savings & Loan Ass'n

Citations

• 10 S.D. 549
• 74 N.W. 889
• 1898 S.D. LEXIS 33

Syllabus

<p>A subscriber to building; and loan association stock, subject to a by-law providing that members withdrawing before maturity would be charged a fee of $12 per share of $100, and a sum not to exceed one-twelfth of 1 per cent, per share a month, to defray expenses, is bound by the by-law, in view of Laws 1893, Chap. 40, § 5, empowering such an association to make by-laws providing for the deduction of “all fines and other charges” from payments that had been made by a withdrawing member, and the profits coming to him.</p>