Appeal from the Circuit Court, Twentieth Judicial Circuit, St.
Clair County; the Hon. DOROTHY W. SPOMER, Judge, presiding.
Rehearing denied March 25, 1966.
The Circuit Court of St. Clair County, in a proceeding under the Administrative Review Act, affirmed an order of the Director of Financial Institutions denying a permit to Industrial Savings and Loan Association to change the location of its business office pursuant to section 3-4 (h) of the Illinois Savings and Loan Act. Plaintiff appeals from the affirmance of that order.
A group of Illinois residents designated as the McRoberts group, on July 11, 1960, filed an application to organize a savings and loan association to be known as the Edgemont Savings and Loan Association.
On March 4, 1961, the Director, after conducting statutory hearings announced a final denial of the application.
Complaint for judicial review was instituted in the Circuit Court of St. Clair County by the applicants on April 13, 1961. The McRoberts group did not perfect an appeal from the court's affirmance but filed a new application with the Director of Financial Institutions on May 7, 1962, which contained an upgraded survey of three years. A preliminary hearing on this second application was conducted between March 14 and April 26 of 1963, resulting in approval of the application and the issuance of a permit to organize as provided by the Illinois Savings and Loan Act on February 24, 1964.
On complaint of plaintiff, Industrial Savings and Loan Association, and other savings and loan associations the Director conducted a hearing to review his decision of February 24, 1964. Following the hearing the Director affirmed his decision on August 31, 1964, of his issuance of a permit to organize to the McRoberts group.
Plaintiff, Industrial Savings and Loan Association's Board of Directors passed a resolution on September 10, 1961, which among other things authorized the corporate officers to make application for a change of location. The passing of this resolution was conveyed to the Director of Financial Institutions by letter dated December 19, 1961, which also requested advice as to what would be required to gain approval.
On December 22, 1961, Chris Stolfa, Supervisor of Savings and Loan Division, on behalf of the Director advised plaintiff that the denial of a prior application for location in the same area was pending on judicial review under the Administrative Review Act and upon a decision by the court its request would be presented to the Advisory Board for recommendations.
On September 12, 1962, plaintiff filed with the Director its formal bylaw amendment adopted on September 4, 1962, for a change of location. The Director disapproved plaintiff's bylaw amendment on February 20, 1963, on the basis that no need exists for a savings and loan association in the proposed new location.
On application the Director conducted a hearing to review his disapproval of plaintiff's request and on April 20, 1964, affirmed his decision. Plaintiff perfected judicial review under the Administrative Review Act to the Circuit Court of St. Clair County, which was by that court affirmed and which resulted in the instant appeal.
While a recitation of the various proceedings covering almost four years by the two groups seeking to locate in the Edgemont area appears to be necessary we must now narrow our inquiry to the facts presented by this appeal by Industrial Savings and Loan Association.
Plaintiff had proceeded under the provisions of section 3-4(h) of the Illinois Savings and Loan Act, ch 32, § 744 (h), Ill Rev Stats, which states:
"If a by-law amendment provides for a change in the location of an association's business office to a location which is more than one mile distant from the existing location, the Director shall not approve the amendment unless he finds that, (1) a need exists for an association in the proposed new location; (2) the capital of the association meets the minimum initial capital requirements of this Act with respect to the new location; (3) the proposed change of location can be effected without undue injury to other properly conducted associations; and (4) notice of the association's proposal to change location has been published at least once in the community of the proposed new location. The Director may hear evidence to determine his findings at any time prior to his approval or disapproval of the amendment; and he may require, as a condition of his approval, ratification of the ...