Mutual Federal Savings & Loan Ass'n v. Savings & Loan Advisory Committee

On this appeal Mutual raises several questions which are best determined seriatim.

I

Does the one mile limitation in sec. 215.13 (39) (b), Stats., apply?

While there is a distinction between the absorption of one savings and loan association by another and the consolidation of savings and loan associations, they are treated alike in respect to a possible resulting branch office. Absorptions are governed .by sec. 215.27, Stats., which requires the affirmative vote of at least two thirds of the board of directors of each association. All the assets of the absorbed association are transferred to…