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ARK. S. & L. ASS'N BD. v. GRAND PRAIRIE, ETC.

No. 76-275.

547 S.W.2d 109 (1977)

ARKANSAS SAVINGS AND LOAN ASSOCIATION BOARD et al., Appellants, v. GRAND PRAIRIE SAVINGS AND LOAN ASSOCIATION, an Organization, Stuttgart, Arkansas, Appellee.

Supreme Court of Arkansas, Division 2.

March 7, 1977.

Attorney(s) appearing for the Case

Harvey L. Bell, Securities Com'n, by Ted Goodloe, Wright, Lindsey & Jennings, Little Rock, for intervenor-appellants.

Malcolm R. Smith, Stuttgart, Catlett & Henderson, Little Rock, for appellee.

ROY, Justice.

Appellee Grand Prairie Savings and Loan Association filed an application for a charter to operate a savings and loan association at Stuttgart. Appellant First Federal Savings and Loan Association of Stuttgart filed a protest to the application.

At a hearing on the application November 18, 1975, only four of the five members, including the chairman, of appellant Arkansas Savings and Loan Association Board were present. At the conclusion of the...

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