Hanchey v. Southern Home Bldg. & Loan Ass'n
| Decision Date | 14 June 1904 |
| Citation | 37 So. 272,140 Ala. 245 |
| Court | Alabama Supreme Court |
| Parties | HANCHEY v. SOUTHERN HOME BUILDING & LOAN ASS'N. |
Appeal from Chancery Court, Pike County; W. L. Parks, Chancellor.
Suit by W. E. Hanchey against the Southern Home Building & Loan Association. From a decree for defendant, complainant appeals. Reversed.
The complainant was a borrowing member of the respondent association and filed his bill for the purpose of having the contract under which he had borrowed the money rescinded, and the mortgage securing the said contract canceled. Among other things, it was averred that the respondent company was a foreign corporation organized under the laws of the state of Georgia, and had its principal place of business in Atlanta Ga., and that said respondent association made the alleged loan and took a loan bond and mortgage within this state without having complied with the statute authorizing foreign associations to do business in this state. The averments of the bill in this respect are sufficiently stated in the opinion. The bill contains an offer on the part of the complainant to pay back to the respondent the debt, with legal interest, if any part thereof is ascertained to be due. Under the opinion on the present appeal it is unnecessary to set out at length the averments of the bill. The respondent interposed demurrers to the bill, and also moved to dismiss the bill for the want of equity.
Gunter & Gunter and M. N. Carlisle, for appellant.
Cabaniss & Weakley and E. R. Brannen, for appellee.
In the bill it is alleged that the defendant is a foreign corporation, and that it made the alleged loan and took the alleged bond and mortgage within this state, and "without complying with the law of said state requiring foreign corporations doing business therein to file with the Secretary of State, at Montgomery, Alabama, a statement in writing giving the name of one agent and one known place of business." This allegation, taken as true, shows a failure on defendant's part to do that which under the statute (Code 1896, § 1316) was made a condition to its right to do business here, and consequently that the bond and mortgage are void. This conclusion is in accordance with the decision in Chattanooga B. & L. Association v Denson, 189 U.S. 410, 23 S.Ct. 630, 47 L.Ed. 870, which was based on the statute referred to, together with decisions of this court rendered in Farrior v. New Eng. Mort. Sec Co., 88 Ala. 275, 7 So. 200; New Eng. Mort. Sec....
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