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NEB. LEAGUE OF SAV. & L. ASS'NS v. MATHES

No. 41427.

266 N.W.2d 720 (1978)

201 Neb. 122

NEBRASKA LEAGUE OF SAVINGS AND LOAN ASSOCIATIONS, Commercial Federal Savings and Loan Association, a Federal Savings and Loan Association, and Nebraska State Savings and Loan Association, a Nebraska State Savings and Loan Association, Appellants, v. Don J. MATHES, as the State Investment Officer of the State of Nebraska, Nebraska Investment Council, and Paul L. Douglas, as Attorney General of the State of Nebraska, Appellees.

Supreme Court of Nebraska.

June 7, 1978.

Attorney(s) appearing for the Case

William Jay Riley of Fitzgerald, Brown, Leahy, Strom, Schorr & Barmettler, Omaha, for appellants.

Paul L. Douglas, Atty. Gen., and Ralph H. Gillan, Asst. Atty. Gen., Lincoln, for appellees.

William B. Brandt, of Brandt & Horan, Nebraska City, Nebraska Bankers Ass'n, Inc. amicus curiae.

Heard before SPENCER, BOSLAUGH, McCOWN, CLINTON and WHITE, JJ., and FAHRNBRUCH and VAN PELT, District Judges.

McCOWN, Justice.

This is a declaratory judgment action in which the plaintiff associations, both federal and state chartered, seek a declaratory judgment as to whether Article XI, section 1, Constitution of Nebraska, prohibits the deposit of funds by subdivisions of the State of Nebraska in savings and loan associations, except as authorized by Article XV, section 17(2), Constitution of Nebraska. The District Court for Lancaster County found that Article XI, section...

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