Bier v. Keer

Citations

• 70 Pa. Super. 570
• 1919 Pa. Super. LEXIS 7

Syllabus

<p>Building and loan association — Assignment of stock — Collateral to mortgage — Appropriation of dues.</p> <p>The assignment of stock in a building and loan association to the association as collateral security for a mortgage indebtedness, does not have the effect of appropriating the monthly dues subsequently paid, to a pro tanto liquidation of the indebtedness, until the association elects to do so. If. the association elects to satisfy the debt from the mortgaged premises, it loses its right to appropriate pro tanto, the dues paid upon the stock.</p>