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CRESCENT INVEST. CO. v. COMM. OF BANK & INS.

103 N.J. Super. 11 (1968)

246 A.2d 493

CRESCENT INVESTMENT CO., A CORPORATION, PLAINTIFF, v. COMMISSIONER OF BANKING AND INSURANCE OF THE STATE OF NEW JERSEY, DEFENDANT.

Superior Court of New Jersey, Chancery Division.

Decided July 18, 1968.

Attorney(s) appearing for the Case

Mr. W. Louis Bossle for plaintiff.

Mr. Arthur J. Sills, Attorney General of New Jersey, for defendant (Mr. E. Robert Levy, Deputy Attorney General, of counsel).

WICK, J.S.C.

This is a declaratory judgment action brought to determine the constitutionality of N.J.S.A. 17:11A-1 et seq., more commonly known as The Secondary Mortgage Loan Act of 1965. The facts are as set forth below.

Plaintiff Crescent Investments Company was granted a license to do business pursuant to The Secondary Mortgage Loan Act of 1965, N.J.S.A. 17:11A-1 et seq. (hereinafter referred to as the "act"). By...

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