KIMMEY v. FARMERS BANK


373 A.2d 569 (1977)

William S. KIMMEY and Joan A. Kimmey, his wife, Defendants below, Appellants, v. FARMERS BANK of the State of Delaware, a Delaware Banking Corporation, Plaintiff below, Appellee.

Supreme Court of Delaware.

Decided April 4, 1977.


Attorney(s) appearing for the Case

Eric M. Doroshow, of Community Legal Aid Society, Inc., Wilmington, for defendants-appellants.

Melvyn I. Monzack, of Walsh, Monzack & Owens, Wilmington, for plaintiff-appellee.

Before DUFFY and McNEILLY, JJ., and MARVEL, Chancellor.


DUFFY, Justice:

This is an appeal from a judgment of the Superior Court holding that the Secondary Mortgage Loan Act, 5 Del.C. § 3101 et seq., is not applicable to a second mortgage loan made by a regulated banking institution, viz., the Farmers Bank of the State of Delaware. The single question at issue here is whether the Bank is a "person" under the statutory definition stated in the Act. We conclude that the Bank is not such a person and, accordingly...

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