Margolis v. Danning

456 F.2d 213 In the Matter of Henry S. MARGOLIS, formerly doing business as Henry S. Margolis Building Contractor, formerly doing business as Margolis Drafting Service, Bankrupt. Henry S. MARGOLIS, Appellant, v. Curtis B. DANNING, Trustee in Bankruptcy, Appellee. No. 25498. United States Court of Appeals, Ninth Circuit. Feb. 23, 1972. Andrew F. Leoni, of Slate & Leoni, Los Angeles, Cal., for appellant. Nathan Markowitz, of Gendel, Raskoff, Shapiro & Quittner, Los Angeles, Cal., for appellee. Before ELY, HUFSTEDLER and WRIGHT, Circuit Judges. PER CURIAM: 1 This appeal requires us to interpret California statutes that, prior to changes in 1970, 1 governed bankruptcy exemptions for funds deposited in savings and loan associations. The bankrupts, Mr. and Mrs. Henry Margolis, attempted to exempt $1,000 in the Union Federal Savings and Loan Association, a federally chartered institution, and an-other $1,000 in the state chartered Perpetual Savings and Loan Association. The referee and the district court determined that the California statutes allow but one $1,000 exemption for withdrawable share accounts, regardless of the state or federal source of the institution's charter. We…