Sumter Building & Loan Ass'n v. Winn

Citations

• 45 S.C. 381
• 23 S.E. 29
• 1895 S.C. LEXIS 1

Syllabus

<p>1. Buieding and Doan Association. — A building and loan association wbich, in violation of its charter, passes a resolution to divide the assets before the time fixed in its charter for dissolution, forfeits its right to maintain a foreclosure suit against a borrowing member, who • refuses to pay monthly dues'and interest after such dissolution.</p> <p>2. Usury. — The contract in this instance is usurious, and the complaint should be retained, so that the defendant may obtain judgment on his counter-claim for usurious interest collected.1</p>