MTR. OF OCHS v. WASH. HGTS. F. S. & L. ASSN.


17 N.Y.2d 82 (1966)

In the Matter of Judith Ochs et al., Constituting the Committee to Elect Independent Directors at Washington Heights Federal Savings and Loan Association, Respondents, v. Washington Heights Federal Savings and Loan Association, Appellant, et al., Respondents.

Court of Appeals of the State of New York.

Decided February 24, 1966.


Attorney(s) appearing for the Case

Edward C. Kalaidjian and Buffum Lovell for appellant.

Simon V. Haberman for respondents.

Milton D. Stewart and John P. MacArthur for Savings Association League of New York State, amicus curiæ.

Chief Judge DESMOND and Judges FULD, VAN VOORHIS, SCILEPPI, BERGAN and KEATING concur.


BURKE, J.

In this case we are confronted with two questions relating to the rights and duties of members in federally chartered savings and loan associations. The primary question is whether such a member, who possesses the right to vote in the annual election of the association's board of directors, also possesses the collateral right, analogous to that of a shareholder in a corporation, to inspect the association...

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