Thomas v. Wasson

On January 3, 1933, the Citizens’ Bank of Benton undertook to accept deposits of Albert Thomas as treasurer of Saline County under a written agreement by which it was stipulated “that all public funds deposited in the Citizens’ Bank, Benton, Arkansas, by the said Albert Thomas, as treasurer of Saline County, Arkansas, where deposit receipts are marked ‘ Special, ’ shall be a preferred claim and an express trust, and Citizens ’ Bank becomes trustee, and said deposits shall at all times be considered a prior and preferred claim in said bank. ’ ’ Thereafter, and to February 28, 1933, there was…