The validity of an order to suspend the payment of deposits by the Minister of Finance and Economy under Article 23 (1) of the Mutual Savings and Finance Act.

The provisions of Article 23-2 (1) and Article 23-2 (1) of the Mutual Savings and Finance Act and Article 23-2 (3) of the same Act, if we think of them together with the provisions of Article 23-2 (1) of the same Act and Article 23-2 (1) of the same Act are effective laws, not simple enforcement regulations, and orders such as the suspension of payment of deposits by the Minister of Finance and Economy,

Article 23-2 (1) of the Mutual Savings and Finance Company Act

Supreme Court Decision 86Meu1866 Decided June 23, 1987 (dong)

Plaintiff 1 et al., Counsel for the defendant-appellant

Cho Ho-Hy Mutual Savings Bank

Daegu High Court Decision 85Na1745 delivered on March 13, 1986

The appeal is dismissed.

The costs of appeal are assessed against the plaintiffs.

We examine the Plaintiffs’ grounds of appeal.

According to Article 23-2 (1) of the Mutual Savings and Finance Act, the Minister of Finance and Economy may issue an order such as suspension of payment, transfer of contract, management of business and property, transfer of business, merger, contract amount, other changes in the contents of the contract, change of types and methods of business, prohibition of change of shareholder transfer, and other necessary orders when it is deemed that the management or property status of the Mutual Savings and Finance might be detrimental to public interest due to unsound financial conditions of the Mutual Savings and Finance Company. In addition, the Mutual Savings and Finance Act contributes to the establishment of credit order by fostering the Mutual Savings and Finance Company and reasonably regulating it in order to promote the financial convenience of ordinary people and increase the savings, and also contributing to protecting the customers (see Article 1 of the Mutual Savings and Finance Act) and other provisions on the supervision of Chapter 3 of the Mutual Savings and Finance Act, which are not merely effective regulations but also effective regulations such as suspension of the payment of deposits by the Minister of Finance and Economy.

In the same purport, the court below confirmed the fact that the Minister of Finance and Economy ordered the suspension of payment until July 15, 1988, the part of the loan obligations of the defendant credit cooperative as of July 15, 1985, exceeding KRW 10,000 per creditor, among the loan obligations of the defendant credit cooperative as of July 15, 1985, on the ground that the management or asset status of the defendant credit cooperative might be prejudicial to the public interest due to the unsoundness of the management or asset status of the defendant credit cooperative, and confirmed the fact that the court below ordered the suspension of payment until July 15, 198, and there is no error of law such as the theory

Therefore, the appeal is dismissed, and the costs of appeal are assessed against the losing party. It is so decided as per Disposition by the assent of all participating Justices.

Justices Choi Jae-ho (Presiding Justice)