ARKANSAS SAV. & L. ASS'N BD. v. CENTRAL A. SAV. & L. ASS'N

No. 74-56.

510 S.W.2d 872 (1974)

ARKANSAS SAVINGS AND LOAN ASSOCIATION BOARD et al., Appellants, v. CENTRAL ARKANSAS SAVINGS & LOAN ASSOCIATION, Appellee.

Supreme Court of Arkansas.

July 1, 1974.


Attorney(s) appearing for the Case

Smith, Williams, Friday, Eldredge & Clark by William L. Patton, Jr. and Hermann Ivester, Little Rock, for appellants.

Lester & Shults by Edward Lester, Little Rock, for appellee.


GEORGE ROSE SMITH, Justice.

In 1973 the appellee, Central Arkansas Savings & Loan Association, applied to the Arkansas Savings and Loan Association Board for a charter to begin business as a savings and loan association in the city of Conway. The application was resisted by the Security Savings & Loan Association of Conway, which had been chartered in 1961.

A three-member quorum of the five-member Board...

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