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FREESTATE ASS'N v. DIRECTOR

[No. 355, September Term, 1961.]

229 Md. 313 (1962)

183 A.2d 357

FREESTATE SAVINGS AND LOAN ASSOCIATION, INC. v. DIRECTOR, STATE DEPARTMENT OF ASSESSMENTS AND TAXATION

Court of Appeals of Maryland.

Decided July 9, 1962.

Attorney(s) appearing for the Case

Leon H.A. Pierson and William E. Brooke, with whom were Shriver & Brooke on the brief, for the appellant.

James P. Garland, Assistant Attorney General, with whom was Thomas B. Finan, Attorney General, on the brief, for the appellee.

Brief of amici curiae filed by Richard W. Case, Joseph M. Roulhac and Smith, Somerville & Case for Maryland Savings and Loan League, Inc., and Maryland League of Building, Savings and Loan Associations, Inc.

The cause was argued before BRUNE, C.J., and HENDERSON, HAMMOND, PRESCOTT, HORNEY and MARBURY, JJ., and NILES, J., Chief Judge of the Supreme Bench of Baltimore City, specially assigned.

HAMMOND, J., delivered the opinion of the Court.

The appeal is from an order appointing a receiver for Freestate Savings and Loan Association, Inc., under the provisions of Sec. 160L of Ch. 1 of the Laws of the Special Session of 1961, and directing that the charter of the Association be forfeited and the association dissolved pursuant to the provisions of Code (1957), Art. 23, Sec. 84. The order was passed after a full hearing on the merits, on findings by the chancellor...

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