Hale v. Gullick

Citations

• 13 S.D. 637
• 84 N.W. 196
• 1900 S.D. LEXIS 199

Syllabus

<p>1. In determining the amount with which a borrowing- member should be credited on his loan on the winding- up of the affairs of a building association, whether or not a premium was paid to the association for such loan is immaterial.</p> <p>2. In determining the amount to which a borrowing member of a building-association is entitled to be credited on winding- up the affairs of such association, the fact of whether or not payments of dues on stock made by such member wore credited on the loan is immaterial.</p> <p>3. Where from the record it does not appear that the premature winding-up of a building association is occasioned by its insolvency, a borrowing member is entitled, on surrendering his stocky to be charged with the actual amount received by him, with interest to date, and credited with all payments made, whether by way of dues, interest or premium, according to the rule covering partial payments.</p> <p>Fuller, P. J., dissenting.</p>