In re State Mutual Building & Loan Ass'n

The opinion of the court was delivered by

Garrison, J.

In Fitzgerald v. State Mutual Building and Loan Association, 69 Atl. Rep. 564, we held that trustees elected by stockholders under the provisions of chapter 24 of the laws of 1904 (P. L. 1904 p. 44) were not the proper officers to wind up an insolvent building and loan association and that a receiver for the defendant should forthwith be appointed. This decision was carried into effect in the court of chancery by the appointment of three receivers, who are the appellants in tire proceeding that is now before us, which was instituted by the…