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JEFCO, INC. v. LEWIS

No. 12243.

520 S.W.2d 915 (1975)

JEFCO, INC., et al., Appellants, v. W. Sale LEWIS, Savings and Loan Commissioner, et al., Appellees.

Court of Civil Appeals of Texas, Austin.

Rehearing Denied April 16, 1975.

Attorney(s) appearing for the Case

Shannon H. Ratliff, McGinnis, Lochridge & Kilgore, Austin, Frank E. McLain, Turner, Rodgers, Sailers, Jordan & Calloway, Dallas, J. Sam Winters, Mary Joe Carroll, Clark, Thomas, Denius, Winters & Shapiro, Austin, for appellants.

John L. Hill, Atty. Gen., John W. Odam, John H. Banks, Thomas M. Pollan, Asst. Attys. Gen., Austin, Fred B. Werkenthin, Dennis R. Reese, Small, Craig & Werkenthin, Austin, for appellees.

SHANNON, Justice.

The resolution of this appeal turns on whether or not the Savings and Loan Section of the Finance Commission of Texas was empowered to adopt a regulation prohibiting savings associations from giving premiums or other items of value as attractions or inducements for the opening of, adding to, or maintaining minimum balances in, savings accounts. As we are of the opinion that the Section has that authority, we will affirm the judgment of the trial...

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