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KANSAS CREDIT UNION LEAGUE v. REDMOND

No. 47,549

216 Kan. 451 (1975)

532 P.2d 1039

KANSAS CREDIT UNION LEAGUE, Receiver for FIRST CREDIT UNION OF PARSONS, Appellant, v. RUBY M. REDMOND, Appellee, and WILEY M. ROBINSON, Defendant.

Supreme Court of Kansas.

Opinion filed March 1, 1975.

Attorney(s) appearing for the Case

Don W. Riley, of Wichita, argued the cause and was on the brief for the appellant.

Charles Menghini, of Menghini & Menghini, of Pittsburg, argued the cause and was on the brief for the appellee.

The opinion of the court was delivered by

FROMME, J.:

This action was commenced by the receiver of an insolvent credit union to recover a judgment for money loaned by the credit union to a shareholder. The primary question on appeal is whether the shareholder of an insolvent credit union may set off the cost of her shares in the credit union against an indebtedness she owed to the credit union at the time it was declared insolvent. The trial court permitted...

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