Case ID: ind_153/html/0702-01.html
Source: Caselaw Access Project
Author: {"author": "Monks, J.", "license": "Public Domain", "url": "https://static.case.law/"}
Date Created: 2024-08-24T03:29:51.129683

The United States Saving and Loan Company v. The First Methodist Protestant Church of Marion.
    [No. 18,747.
    Filed December 21, 1899.]
    From the Grant Superior Court.
    
      Reversed.
    
    
      A. M. Wagner, J. Bingham and J. Long, for appellant.
    
      W. H. Carroll and (?. D. Dean, for appellee.
   Monks, J.

The question presented in this case is whether or not a foreign building and loan association can enforce a note and mortgage executed before the taking effect of the act of 1893 (Acts 1893, p. 274, §§4464, 4483, Burns 1894, §§3420v, 3420oo, Horner 1897), without first complying with the requirements of said act. It was held in Security, etc., Association v. Elbert, ante, 198; Equitable, etc., Association v. Peed, ante, 697, and National, etc., Association v. Black, ante, 701, that said act did not apply to contracts entered into before said act took effect.

Upon the authority of the cases mentioned the judgment is reversed, with directions to sustain appellants motion for a new trial, and for further proceedings not in conflict with this opinion.