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FAMILY SAVINGS & LOAN ASSOCIATION v. STEWART

[No. 20, September Term, 1963.]

232 Md. 424 (1963)

194 A.2d 118

FAMILY SAVINGS & LOAN ASSOCIATION SHAREHOLDERS' PROTECTIVE COMMITTEE, ETC., ET AL. v. STEWART ET AL.

Court of Appeals of Maryland.

Decided October 9, 1963.

Attorney(s) appearing for the Case

H. Don Cummings, with whom were Miller, Cummings & Roberts and Irving A. Levine on the brief, for appellants.

R. Edwin Brown and David S. Weinberg, with whom was Manuel M. Weinberg on the brief, for appellees.

The cause was argued before BRUNE, C.J., and HENDERSON, PRESCOTT, HORNEY and MARBURY, JJ.

PRESCOTT, J., delivered the opinion of the Court.

The chancellor decreed below that the holders of "all Christmas Savings Accounts and all other similar accounts" be paid as general creditors of Family Savings & Home Loan Association, Inc., (the Association), before the distribution of any of its assets to its shareholders, and the shareholders have appealed.

The question which we must answer is whether the appellees...

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