Lovenovith v. Knights of Joseph Building & Loan Ass'n

Citations

• 68 Pa. Super. 421
• 1917 Pa. Super. LEXIS 140

Syllabus

<p>Building and loan association — Security—Payment of money to secretary — By-laivs.</p> <p>A member of a building and loan association is entitled to have satisfied of record a mortgage which he had given to the association, where it appears that he gave to the secretary a check to the order of the association for the full amount of the principal and interest of the mortgage, and that the secretary endorsed the check with the name of the association and embezzled the proceeds, if it appears that the by-laws authorized the treasurer to “receive from the secretary all money paid into the corporation,” and that it was the course of business for the members to pay moneys to the secretary who in turn paid them to the treasurer.</p>