Beneficial Finance Co. v. State, Bureau of Banks & Banking

ARCHIBALD, Justice.

Beneficial Finance Co. (Maine) instituted a complaint pursuant to Rule 80B, M.R. Civ.P., seeking to reverse an “Order” of the Superintendent of the Bureau of Banks and Banking. A justice of the Superior Court denied the relief requested but refused to give the defendant’s mandate retroactive effect.

We sustain the plaintiff’s appeal from this ruling and dismiss the defendant’s cross-appeal therefrom.

Between May, 1972, and March, 1974, an examination of the books of the plaintiff revealed what the Superintendent of the Bureau of Banks and Banking deemed to be numerous loans…