Building, Loan & Savings Ass'n v. Berlin

Citations

• 15 Pa. Super. 393
• 1900 Pa. Super. LEXIS 364

Syllabus

<p>Foreign corporation — Doing business — Agency of a building association —Registration under the act not retroactive.</p> <p>An investment or employment of a part of the capital of a foreign building association within the state of Pennsylvania had through and by means of an agency within the state for the prosecution of the company’s corporate business, is a doing of business within the meaning of the Act of April 22, 1874, P. L. 108, and where there has been a failure to register as required by the act prior to a loan on mortgage, the facts disclose a doing of business within the commonwealth in violation of the act, and there can be no recovery on the mortgage.</p> <p>The fact that the association did file with the secretary of the commonwealth, subsequently to the creation of the mortgage, the statement required by the act, does not validate the transaction. Upon grounds of public policy the contract is void.</p>