Buntyn v. National Mutual Building & Loan Ass'n

Citations

• 86 Miss. 454

Syllabus

<p>1. Building and Loan Association. Foreign. Agent for service of process. Laws 1896, eh. 57, p. 71.</p> <p>The status of a foreign building and loan association as to service of process upon it, under Laws 1896, ch. 57, p. 71, requiring such associations doing business in this state through local sections, branches, lodges, or bodies, to appoint some one upon whom process against the association can be served, is its real status, as established by proof, rather than a fabricated status as embodied in writings.</p> <p>2. Usuey. Suit, to recover. Statute of limitations. Code 1892, § § 2348, 2739.</p> <p>An obligation to repay interest collected upon an usurious agreement (liability for which arises under Code 1892, § 2348, providing that if a greater rate of interest than ten per centum shall be stipulated for or received in any case, all interest shall be forfeited and may be recovered back, whether the contract be executed or executory) is in its nature an implied contract, and a suit thereon will be barred by limitation unless brought within three years next after the cause of action accrued, under Code 1892, § 2739, providing that actions on unwritten contracts, express or implied, shall be commenced within three years.</p>