Lanz

Lanz v. Fresno Loan & Savings Bank

Good Law
125 Cal. 456·1899 Cal. LEXIS 881·58 P. 63
Supreme Court of CaliforniaJuly 24, 1899S. F. No. 1077California1,088 words

Opinion

Lead Opinion

Garoutte, J.

—Plaintiff brought this action to recover from the defendant certain sums of money deposited with it. The answer alleged that the deposits were made under and in-accordance with a by-law of the defendant which required notice to the bank of any intended withdrawal of moneys deposited. It was further alleged that the defendant was visited by the bank commissioners, who required the defendant to levy an assessment upon its capital stock of ten dollars per share, and use the funds thus raised in the conduct of its business; that defendant refused to comply with this direction, and the bank commissioners “advised and directed defendant to liquidate and wind up its affairs”; that defendant closed its doors to all new business and proceeded to wind up its affairs, and is still doing so under the direction of said bank commissioners.

*457 The court, after finding in substance the foregoing facts, further found: “That at all times since the defendant closed its doors the officers of the bank have had entire charge and control of the collection of all debts, securities, and assets, and the disbursement of the same, and a large amount of money has been since said time collected by the…

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