Marjorie Ann Shields v. United States National Bank of Oregon, a National Banking Corporation

In 1953 appellant Marjorie Ann Shields (herein Marjorie) and her minor son, Ricky Dale Shields (herein Ricky), opened a joint savings account with appellee United States National Bank of Oregon (herein Bank). The signature card provided that the account was payable to the surviving joint tenant.

In 1961 Ricky married Lola Shields (herein Lola). Ricky maintained possession of the savings account passbook until his death in January, 1970. Thereafter, Lola assumed possession of the passbook. Bank regulations prohibited withdrawals in the absence of a passbook.

In March, 1970, after Ricky’s death, both Marjorie and Lola asserted demands upon the Bank for the proceeds in the account; the Bank refused to pay either claimant absent a judicial determination of entitlement. Lola thereupon initiated a declaratory judgment action in the Oregon state court, naming both Marjorie and the Bank as defendants. For some inexplicable reason the signature card containing the clause for rights of survivorship was not introduced into evidence in that proceeding by either Marjorie or the Bank. The state court ruled that the account belonged to Ricky’s estate and directed the Bank to remit the proceeds…