Lowell Co-operative Bank v. Co-operative Central Bank

This bill in equity is brought by eight cooperative banks, established and doing business in this Commonwealth under G. L. c. 170, against The Co-operative Central Bank, organized and doing business under St. 1932, c. 45, its officers and directors, and the commissioner of banks. The plaintiffs seek to enjoin and restrain the defendants from making assessments, and from taking any measures to enforce the collection of assessments for the establishment of a fund for the insurance of shares in cooperative banks in accordance with the provisions of St. 1934, c. 73, on the ground that the statute…