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COMMUNITY FINANCE & THRIFT CORP. v. STATE

Nos. A-7880, A-7881, A-7999.

343 S.W.2d 232 (1961)

COMMUNITY FINANCE & THRIFT CORP., Petitioner, v. STATE of Texas, Respondent. HOUSEHOLD FINANCE CORP. OF SAN ANTONIO, Petitioner, v. STATE of Texas, Respondent. PACIFIC FINANCE LOANS, Petitioner, v. STATE of Texas, Respondent.

Supreme Court of Texas.

Rehearing Denied March 15, 1961.

Attorney(s) appearing for the Case

Joseph H. Louis, Wilmington, Del., McGown, Godfrey, Logan & Decker, John B. McClane, Fort Worth, for Community Finance & Thrift Corp.

Will Wilson, Atty. Gen., Fred B. Werkenthin and R. V. Loftin, Jr., Assts. Atty. Gen., for the State.

Wm. F. Robinson and H. M. Foster, Jr., Los Angeles, Cal., Vinson, Elkins, Weems & Searls, Leroy Jeffers, Houston, R. Dean Moorhead, Austin, for Pacific Finance Loans.

Carrington, Johnson & Stephens, James E. Coleman, Jr., Dallas, for Household Finance Corp. of San Antonio.

PER CURIAM.

These cases involve certificate loans made under and in accordance with the provisions of Article 1524a-1, Vernon's Ann.Tex.Civ.Stat. The Court of Civil Appeals held: (1) that when the borrower is required to purchase an investment certificate from the lender as a condition to obtaining the loan, to pledge such certificate as security for the loan, and to make periodic payments on the certificate during the term of the loan, amounts required to be paid...

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