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IN RE CITY SAV. BANK

No. 6605

113 N.H. 378 (1973)

In re CITY SAVINGS BANK OF BERLIN AND BERLIN CITY NATIONAL BANK

Supreme Court of New Hampshire.

July 24, 1973

Attorney(s) appearing for the Case

McLane, Carleton, Graf, Greene & Brown and Robert A. Raulerson (Mr. Raulerson orally) for the petitioner banks.

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

Pierre J. Morin, guardian ad litem, filed no brief.

KENISON, C. J.

This action involves a petition for approval of the consolidation of City Savings Bank of Berlin and Berlin City National Bank under RSA ch. 388. The issue presented on this appeal is whether dissenting depositors in a mutual savings bank are constitutionally entitled to a right of appraisal and cash payment option for their share of the bank's surplus.

The merger plan provides that the Berlin City National Bank would convert from a federally...

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