North American Building-Loan Ass'n v. Richardson

Acting under the provisions of the Building and Loan Association Act (Stats. 1931, p. 483), the respondent Building and Loan Commissioner of this state assumed possession and control of the property, business and assets of the appellant North American Building-Loan Association. Thereafter, and pursuant to section 13.12 of the act, the appellant instituted the present action in the superior court to enjoin the respondent commissioner from proceeding further in the handling of its business. Obviously, the appellant did not prevail in the court below, the court finding, among other things, that…