Legal Opinion
First Federal Savings & Loan Ass'n v. Noguera
Supreme Court of Puerto Rico
Decided September 20, 1962No. 214Published
1Opinion of the CourtJustice Rigau
The Secretary of the Treasury notified the savings and loan association named “First Federal Savings and Loan Association of Puerto Rico”, petitioner herein, a tax assessment on personal property. The petitioner disagreed with the tax imposed on it on the ground that its property is exempt from same pursuant to § 5 (h) of the Federal Home Owners’ Loan Act of 1933, 48 Stat. 128, 12 U.S.C.A. § 1464 (h), and filed a complaint before the Superior Court. The latter upheld the validity of the tax.
In view of the allegations that follow, it is fitting to make clear at the beginning that the power of…
2Cases cited26 opinions
- M'culloch v. State of MarylandSupreme Court of the United States · 1819
- Graves v. New York Ex Rel. O'KeefeSupreme Court of the United States · 1939
- Federal Land Bank of St. Paul v. Bismarck Lumber Co.Supreme Court of the United States · 1941
- Owensboro National Bank v. OwensboroSupreme Court of the United States · 1899
- Des Moines National Bank v. FairweatherSupreme Court of the United States · 1923
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