Arkansas Savings & Loan Board v. Southerland

JOHN A. FOGLEMAN, Justice.

The circuit court reversed the Arkansas Savings & Loan Board’s denial of a charter to appellees for their proposed North Central Arkansas Savings & Loan Association at Mountain View. The court’s action was based upon its finding that the decision of the board was not based upon substantial evidence. The board had found that the application met all requisites for the grant of a charter except for its findings that there was not a public need for the proposed association at the time and that the volume of business in the» area in which its business would be conducted…