Carew v. Hibernia Bank

Appellant seeks a declaration that as a depositor of The Hibernia Savings and Loan Society, a membership corporation, she possessed the same rights in its reserve fund as the members of the society and that therefore she was entitled to share equally with the members upon the corporation’s conversion to a stock structure and “distribution of capital stock into which said reserve fund was converted. ’ ’

The summary judgment declares that a nonmember depositor of the society held no “interest in its property, assets or reserve fund or ... to any of its capital stock or any proceeds thereof.”1

Appe…