Tuesday, April 24, 2012

George W Omacht

George William Omacht (1887-1964)
Born: 8 July 1893, South Bend, St. Joseph, Indiana, United States
Died:  15 August 1964, Chicago, Cook, Illinois, United States   
Spouse:  Julia Elizabeth Ritchey (1893-1995)     Married: 1 March 1892, Lafayette, Tip., IN
Parents: George F. Omacht (1858-1939)/Mary D. Johnson (1863-1917)
Children: Mary Caroline Omacht (1922-1999) 

George William Omacht Obituary

G. W. Omacht Died at 71; Ex-Associate Counsel
George W. Omacht of South Bend and Chicago, former vice-president and senior counsel for Associates Investment Co, here died of a heart attach at 11:30 a.m. Saturday in Michael Reese Hospital, Chicago.  He was 71.

A nationally known authority on finance law, Mr. Omacht retired from Associates on Dec 31, 1962, and  became senior counsel for the American Finance Conference, of which Associates is a leading member.  he retired as counsel for the conference last March 15.

Mr. Omacht was named vice-president and senior counsel for Associates in November, 1958.  He was elected to the board of directors in 1961.  he joined the local finance firm as general counsel in 1923.

Writes Financing Law
He and two other attorneys formed the local law firm of Seebirt, Oare and Omacht in 1926, but he left the firm in 1933 to work full time for Associates.

Mr. Omacht wrote the first law regulating time sales financing.  It was adopted by the Indiana legislature in 1935.  His writings on finance regulations became a guide for legislators in many states.

He also helped write the financial section of the National Recovery Act passed by Congress in 1933.  The legislation was passed to prevent business firms cutting prices below production costs.

Mr. Omacht played an important role in the merger of the First National and Indiana Trust Banks which became the First Bank and Trust Co. of South Bend.  He served as a city judge here in 1921 and 1922.

Graduate of I.U.
He was a former chairman of the legal committee of the American Finance Conference and was a member of the law committee of the National Consumer Finance Assn.

Born in South Bend on July 8, 1893, he graduated in 1916 from the Indiana University Law School.  He was a member of the Sigma Nu fraternity.  He received a doctorate in jurisprudence from the University of Chicago Law School in 1918.

During the last year he was engaged in writing a book on consumer financing.  Mr. Omacht was a member of the Indiana, Illinois and American Bar Assns.

He is survived by his wife, Julia R., of South Bend; a daughter, Mrs. Mary O. Menzie, of South Bend, and a granddaughter.

Friends may call at the Russell Funeral Chapel from 2 to 4 and 7 to 9 p.m. Monday.

Services will be held there at 2 p.m. Tuesday with Rev. Daniel W. Fowler, pastor of the First Presbyterian Church, officiating.  Burial will be in Riverview Cemetery.

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