Ulmer v. Falmouth Loan & Building Ass'n
Supreme Judicial Court of Maine
In Equity. On Appeal by Plaintiee. Bill in equity, heard on bill and demurrer, praying for an injunction, a receiver, and the winding up of the affairs of the defendant corporation. The presiding justice dismissed the bill.
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In Equity. On Appeal by Plaintiee. Bill in equity, heard on bill and demurrer, praying for an injunction, a receiver, and the winding up of the affairs of the defendant corporation. The presiding justice dismissed the bill. The plaintiff in his bill charged various acts of the officers to be in violation of the by-laws of the corporation, such as follows:— “ That your petitioner is informed and has reason to believe and does believe that the board of directors and officers of said association disregarding the rights of your petitioner and the provisions of said constitution and said laws of…
1Opinion of the CourtSavage, J.
Bill in equity by complainant, as shareholder, charging that various acts of the officers of the defendant corporation, which are alleged to be ultra vires, have “disintegrated, broken and changed the original basis upon which said association was organized and upon which its business was conducted, and have destroyed the mutual relationship between the shareholders and borrowers of said association to such an extent that the mutual obligations thereof cannot now be fulfilled; that the original purposes of said association cannot now be effected; and that the usefulness of said association…
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