A Treatise On Building Associations Adapted to the Use of Lawyers And Officers
A Treatise On Building Associations Adapted to the Use of Lawyers And Officers
Charles N Charles Nebeker Thompson
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113. ♦Mechanics, etc. , Association v. Conover, 1 McCart. 219. In Vir- ginia he loses his vote : Winchester, etc. , Association v. Gilbert, 23 Grat. 7b7. While in Michigan, the statute divests him of the right, although he remains a member and debtor. Mich. Etc. Association v. McDevitt, 77 Mich 1. *Allen V. Curtis, 36 Conn. 456. ^Thompson's Liabilities of Officers and Agents 351; Hodges v. New England Screw Company, 53 Am. Dec. 637, note. Officers of a build- ing association, although trustees ...of the property of the association do not occupy that relation toward one to whom they sell their individual stock, and therefore if they make representations to him as to its value, which do not turn out as ex- pected and represented, they are not liable in the absence of an alle- gation of deceit: Cook v. Henderson, 8 Rec. (Ohio) 439. DUTY AND LIABILITY OF DIRECTORS. 39 shonld prescribe their duties. Generally the directors elect the officers of the association and pass upon loans and transact whatever business is of interest to the association.
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