localization doctrine

localization doctrine
The doctrine that a foreign loan association voluntarily subjects itself to the local laws by doing business for a length of time in a state and cannot thereafter abrogate those laws by contractual stipulations to the effect that its local contract shall be governed by the usury laws of the state of its domicil. National Mut. Building & Loan Asso. v Brahan, 193 US 635, 48 L Ed 823, 24 S Ct 532.

Ballentine's law dictionary. . 1998.

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