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HULMAN v. LAWN SAV. & LOAN ASS'N

Gen. No. 53,401.

122 Ill. App.2d 363 (1970)

259 N.E.2d 324

Justin Hulman, Commissioner of Savings and Loan Associations of the State of Illinois, Plaintiff-Cross-Appellee, v. Lawn Savings and Loan Association, Defendant-Appellee-Cross-Appellant.

Appellate Court of Illinois — First District.

Rehearing denied June 23, 1970.

Attorney(s) appearing for the Case

Henry W. Kenoe and Raphael Fine, of Chicago, for appellee-cross-appellant Lawn Savings and Loan Association.

Albert E. Jenner, Jr., Philip W. Tone and John G. Stifler, of Chicago (Raymond, Mayer, Jenner & Block, Alan J. Moscov, General Counsel, Paul McGraw, Associate General Counsel, and Daniel J. Goldberg, Assistant General Counsel, of counsel), for appellant Federal Savings and Loan Insurance Corporation, Receiver.

William J. Scott, Attorney General of State of Illinois, of Chicago (Donald J. Veverka, Special Assistant Attorney General, Frank J. McGarr, First Assistant Attorney General, and Francis T. Crowe, Assistant Attorney General, of counsel), for cross-appellee Justin Hulman.

MR. JUSTICE SMITH delivered the opinion of this court.

The directors of the defendant loan association adopted a resolution requesting the Commissioner of Savings and Loan Associations to take over custody of their association under the provisions of Ill Rev Stats 1967, c 32, § 848. This he did and sent in his examiners. Subsequently he designated a receiver under § 921 of the statute and requested the Attorney General to file a bill in equity for the orderly...

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