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WIS. BANKERS ASS'N v. MUT. SAVINGS & LOAN

No. 77-347.

96 Wis.2d 438 (1980)

291 N.W.2d 869

WISCONSIN BANKERS ASSOCIATION (INCORPORATED), a Wisconsin nonstock corporation, on behalf of its members, and Kilbourn State Bank, a Wisconsin banking association, and Grafton State Bank, a Wisconsin banking association, on behalf of all state or federally charted banks in Wisconsin, Plaintiffs-Appellants-Petitioners, v. MUTUAL SAVINGS & LOAN ASSOCIATION OF WISCONSIN, a Wisconsin savings & loan association, Defendant-Respondent.

Supreme Court of Wisconsin.

Decided May 13, 1980.

Attorney(s) appearing for the Case

For the appellants-petitioners there were briefs by James P. Brody, Lawrence J. Bugge, Thomas L. Shriner, Jr., and Foley & Lardner of Milwaukee, and oral argument by Mr. Brody.

For the respondent there were briefs by Edward A. Dudek, James D. Friedman and Frisch, Dudek & Slattery, Ltd., of Milwaukee, and oral argument by Edward A. Dudek.

A brief amicus curiae was filed by Bronson C. La Follette, attorney general, John E. Armstrong, assistant attorney general, and William R. Hotz, of counsel, all of Madison, for Wisconsin Commissioner of Savings and Loan.

A brief amicus curiae was filed by John K. MacIver, W. Charles Jackson and Michael, Best & Friedrich, all of Milwaukee, for Savings League of Wisconsin.

Originally reported in 87 Wis.2d 470, 275 N.W.2d 130.

WILLIAM G. CALLOW, J.

On this review, we consider the legality of Mutual Savings and Loan Association's Supreme Account II.

I.

Mutual Savings and Loan Association of Wisconsin (Mutual) is a state chartered savings and loan association. It is the third largest savings and loan in the state. In September of 1974, Mutual...

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