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This document is a summary of the case Coit Independence Joint Venture v. FirstSouth, F.A. The plaintiff Coit sued the defendant FirstSouth, a savings association, for various claims including usury, breach of fiduciary duty, and breach of good faith. When FirstSouth went into receivership under the Federal Savings and Loan Insurance Corporation (FSLIC), the FSLIC removed the case to federal court. The district court dismissed the case, holding that under federal statutes suits against savings associations

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