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DEPT. OF FINANCIAL INSTITUTIONS v. HOLT, ETC.

No. 28,867.

231 Ind. 293 (1952)

108 N.E.2d 629

THE DEPARTMENT OF FINANCIAL INSTITUTIONS, ET AL. v. HOLT, DOING BUSINESS AS HOLT NASH CO., ET AL.

Supreme Court of Indiana.

Filed November 13, 1952.

Attorney(s) appearing for the Case

J. Emmett McManamon, Attorney General, Clyde H. Jones, and Thomas L. Webber, Deputy Attorneys General, for appellant.

Leo M. Gardner and Alan W. Boyd, of Barnes, Hickam, Pantzer & Boyd, of Indianapolis, for appellees.

John K. Ruckleshaus and John C. O'Connor of Ruckelshaus, Reilly, Rhetts & O'Connor, of Indianapolis for Indiana Association of Installment Credit Companies, Inc., Amicus curiae.

DRAPER, J.

This action was brought by one Holt, a retail seller of automobiles, on behalf of himself and all others similarly situated, to enjoin the enforcement of so much of Section 58-910 Burns' Stat. (Section 10, Indiana Retail Installment Sales Act, hereinafter called the "Act"), as purports to authorize the appellant Department of Financial Institutions to limit by regulation the amount which a purchaser of retail installment sales contracts can pay or agree...

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