DIRECTOR - MUTUAL ASSOCIATION
Opinion No. 37 (1978)
QUESTION: May a judge continue to serve as a director of a mutual
savings and loan association, incorporated under prior laws of this State, wherein the
depositors own, ratably, all of the reserve funds and assets of the association?
ANSWER: It is the opinion of the Committee that such an entity falls within the definition of a "publicly owned business" as set out in the Canon 5C(2) of the Code of Judicial Conduct and continued service as a director would be in violation of such canon.