Alabama Federal Savings & Loan Ass'n v. Thrift Foundation, Inc.

This is an appeal from a declaratory judgment entered in favor of defendant Thrift Foundation, Inc., et al., and against plaintiffs Alabama Federal Savings & Loan Association and Jack H. Shannon.

Plaintiffs filed a complaint on December 10, 1984, requesting a preliminary injunction and requesting that the court declare void an amendment to the articles of incorporation of Thrift Foundation, Inc. (hereinafter “Thrift”), made on May 15, 1984; that the court find that the current directors of Alabama Federal Savings & Loan Association (hereinafter “Alabama Federal”) were entitled to membership in…