MICH. SAV. & LOAN LEAGUE v. MUNICIPAL FINANCE COMM.

Docket No. 33, Calendar No. 46,938.

347 Mich. 311 (1956)

79 N.W.2d 590

MICHIGAN SAVINGS & LOAN LEAGUE v. MUNICIPAL FINANCE COMMISSION.

Supreme Court of Michigan.

Rehearing denied May 17, 1957.


Attorney(s) appearing for the Case

Charles F. Cummins, for plaintiffs.

Thomas M. Kavanagh, Attorney General, Edmund E. Shepherd, Solicitor General, and G. Douglas Clapperton, Assistant Attorney General, for defendants.

Amicus Curiae:

United States Savings & Loan League, by Horace Russell and William Prather.


CARR, J.

This proceeding involves the right of school districts of the State to invest money from their debt retirement funds in State and Federal building and loan associations, or savings and loan associations. The Michigan Savings & Loan League, a voluntary association, several of its members, and associations organized under the Federal law filed their bill of complaint in the circuit court of Ingham county seeking a declaratory decree with reference to the...

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