Case Name: The State, ex rel C. C. Crabbe, Attorney General, v. The Massillon Saving and Loan Company
Court: Supreme Court of Ohio
Jurisdiction: Ohio
Decision Date: 1924-05-13
Citations: 2 Ohio Law Abs. 340
Docket Number: No. 18314
Parties: The State, ex rel C. C. Crabbe, Attorney General, v. The Massillon Saving and Loan Company.
Judges: Marshall, C. J., Robinson, Matthias and Allen, JJ., concur. Wanamaker, J., not participating.
Reporter: The Ohio Law Abstract
Volume: 2
Pages: 340–340

Head Matter:
No. 302
No. 18314
The State, ex rel C. C. Crabbe, Attorney General, v. The Massillon Saving and Loan Company.
In Quo Warranto.
185. BUILDING AND LOAN ASSNS— Are subject to state regulation and control, and they cannot enter into contract reaching into the future touching sale of stock or memberships so as to deprive state from control of such sales.

Opinion:
JONES, J.
1. Building and loan associations are subject to state regulation and1 control, not only under Section 2, Article XIII of the State Constitution, but ¿..ko by virtue of the state's1 inherent police powers.
2. The provisions of Sections 9645 and 9649, General Code (110 OL. 67-68), controlling the sale of stock and memberships in such associations, apply to associations existing at the time such act became effective.
3. While the state may not impair a completed contractual obligation, a building and loan company cannot so enter into contracts, reaching into the future, touching the sale of its stoek_ and memberships, as to deprive the state, in the proper exercise of its police power, from controlling such sales in the future.
Writ allowed.
Marshall, C. J., Robinson, Matthias and Allen, JJ., concur. Wanamaker, J., not participating.