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PETERBOROUGH SAVINGS BANK v. KING

No. 4906.

103 N.H. 206 (1961)

PETERBOROUGH SAVINGS BANK & a. v. HARRISON S. KING, Commissioner.

Supreme Court of New Hampshire.

Decided March 7, 1961.

Attorney(s) appearing for the Case

Kenneth A. Brighton and McLane, Carleton, Graf, Greene & Brown (Mr. Greene orally), for the plaintiffs.

Gardner C. Turner, Attorney General, and Frederic T. Greenhalge, Assistant Attorney General (Mr. Greenhalge orally), for the defendant.

Upton, Sanders & Upton (Mr. Richard F. Upton orally), for the New Hampshire Association of Savings Banks as amicus curiae.

BLANDIN, J.

The single question before us is whether the plaintiff savings banks, making loans on the credit of two-name paper which satisfy the legal requirements of RSA 387:5 IV (supp), may also take as additional security non-legal collateral without invalidating the loan. The issue is one of statutory interpretation of RSA 387:2 and 5 IV (supp), which in establishing the standards for making loans in the above category provide in part as follows: "2. REQUIREMENTS...

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