In re the Election of Directors of Bushwick Savings & Loan Ass'n

Petitioners challenge the validity of the election of directors of the respondent, Bushwick Savings and Loan Association (hereinafter referred to as the “Association”), because of alleged irregularities, and bring this application pursuant to section 25 of the General Corporation Law to have themselves declared to be the duly elected directors of said Association or, in the alternative, that a new election be ordered by this court.

Each of the petitioners deposited $200 in the Association on November 18, 1946, and thus met the minimum requirements for eligibility to the position of director.…