Marshfield Community Bank v. State Banking Board

COTTEY, Special Judge.

We have for decision a question requiring the construction of several sections of the banking laws of the state and a review of some procedural aspects of their administration. The case has reached us by a progression of steps taken under circumstances on which it will be appropriate to comment as we go along, by way of background for the later discussion of the issues :

1. In 1967 the incorporators of a proposed new bank- — the Marshfield Community Bank, respondent here — applied to the Commissioner of Finance for a charter to engage in the general banking business in…