Earle v. Webb

The opinion of the Court was delivered by

Mr. Justice Baker.

On October 2, 1934, the stockholders of Mechanics Building & Loan Association voted to go into liquidation, and wind up its affairs, and for the purpose of carrying out said intent, appointed a liquidating committee. On December 12, 1934, in order to aid in and facilitate the liquidation of said Association, the State Board of Bank Control, appointed plaintiff-respondent as Conservator thereof. This was done pursuant to an Act of the Legislature, approved May 16, 1933. This Act also provided that Conservators appointed by authority of…