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DEPT. OF FINANCIAL INST. v. BENEFICIAL FINANCE

No. 1-880A218.

426 N.E.2d 711 (1981)

DEPARTMENT OF FINANCIAL INSTITUTIONS OF THE STATE OF INDIANA, Ralph J. Tyring, Chairman, George N. Lane, Vice Chairman, Maurice R. Kirkwood, Secretary, Eugene Yates, Member, Robert P. Burkhartsmeier, Member, Carl W. Seet, Member, and James E. Farris, Director, Appellants (Respondents below), v. BENEFICIAL FINANCE Company of Madison, Beneficial Finance Company of Elkhart County, Beneficial Finance Company of Ft. Wayne, Indiana, Beneficial Finance Company of Hammond, Indiana, Beneficial Finance Company of Merrillville, Indiana, Beneficial Finance Company of LaPorte County, Beneficial Finance Company of Mishawaka, Indiana, Beneficial Finance Company of South Bend, Indiana, Beneficial Finance Company of Valparaiso, Indiana, and Commonwealth Loan Company, d/b/a Beneficial Finance Company, Appellees (Petitioners below).

Court of Appeals of Indiana, First District.

October 14, 1981.

Attorney(s) appearing for the Case

Linley E. Pearson, Atty. Gen., Dan S. LaRue, Deputy Atty. Gen., Indianapolis, for appellants.

R.M. Kroger, James S. Kirsch, Kroger, Gardis & Regas, Indianapolis, for appellees.

ROBERTSON, Judge.

The Department of Financial Institutions (Department) appeals the judgment rendered in favor of ten affiliated finance companies doing business under the name of "Beneficial Finance Co." (Beneficial). The Department initiated administrative proceedings and found that Beneficial was in violation of Ind. Code 24-4.5-4-301. Beneficial sought judicial review of this determination and the trial court reversed the Department's findings.

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