MUTUAL SAVINGS & LOAN ASSOCIATION v. LANIER

No. 72.

182 S.E.2d 368 (1971)

279 N.C. 299

MUTUAL SAVINGS & LOAN ASSOCIATION v. Edwin S. LANIER, Commissioner of Insurance of the State of North Carolina.

Supreme Court of North Carolina.

July 30, 1971.


Attorney(s) appearing for the Case

Manning, Fulton & Skinner by Howard E. Manning and W. Gerald Thornton, Raleigh, for plaintiff appellant.

Atty. Gen. Robert Morgan and Asst. Atty. Gen. Myron C. Banks for defendant appellee.


BOBBITT, Chief Justice.

Chapter 1110, Session Laws of 1967, referred to hereafter as the 1967 Act, is effective and applicable to all taxable years beginning on or after January 1, 1967. Its provisions, discussed below, determine plaintiff's tax liability for 1967 and 1968.

Prior to the 1967 Act, building and loan and savings and loan associations organized under the laws of this State were taxed as provided in G.S. Ch. 105, Subch. I, Art. 8D, Vol. 2D, 1965...

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