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CHEVY CHASE SAVINGS & LOAN v. STATE

No. 9, September Term, 1986.

306 Md. 384 (1986)

509 A.2d 670

CHEVY CHASE SAVINGS & LOAN, INC. v. STATE OF MARYLAND AND STATE OF MARYLAND DEPOSIT INSURANCE FUND CORPORATION.

Court of Appeals of Maryland.

June 5, 1986.

Attorney(s) appearing for the Case

James J. Cromwell and James C. Chapin (J. Bradford McCullough, Beckett, Cromwell & Myers, P.A., on brief), Bethesda, for appellant/cross appellee.

Robert A. Zarnoch, Asst. Atty. Gen., and Dennis M. Sweeney, Deputy Atty. Gen., (Stephen H. Sachs, Atty. Gen., and Kathryn M. Rowe, Asst. Atty. Gen., on brief), Baltimore, for appellees/cross appellants.

Perry, O. Barber, Jr., Charles M. Darling IV, Stephen L. Teichler, Dennis J. Moss, Mark R. Haskell and Baker & Botts, Washington, D.C., M. Albert Figinski, Ira C. Cooke, Stephen B. Caplis, David R. Sonnenberg and Melnicove, Kaufman, Weiner, Smouse & Garbis, P.A., Baltimore, for amicus curiae Epicenter Consolidated, Ltd. and EPIC Holdings, Ltd.

Mark H. Tuohey III, and Kirby, Gillick, Schwartz & Tuohey, P.C., on brief, Washington, D.C., for Clayton C. McCuistion and other amicus curiae.

Argued before MURPHY, C.J., and SMITH, ELDRIDGE, COLE, RODOWSKY, COUCH and McAULIFFE, JJ.

RODOWSKY, Judge.

Chevy Chase Savings and Loan, Inc. (Plaintiff or Chevy Chase), a state chartered association, sues to recover funds it had been assessed for insurance of its accounts through Maryland Savings-Share Insurance Corporation (MSSIC). The defendants are the State of Maryland and the State of Maryland Deposit Insurance Fund Corporation (MDIF), a State agency and successor by merger to the insolvent MSSIC. As a member of MSSIC, Plaintiff had been required...

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