State ex rel. Miller v. Buttzville State Bank
North Dakota Supreme Court
Appeal from tbe District Court of Ransom County, Allen, J. Tbe appellant should be subrogated to all tbe rights of tbe state as a preferred creditor of tbe insolvent bank. Rev. Codes 1905, § 7387; Rev. Codes 1905, §§ 6109, 6110. ■ A change in legislation cannot operate to cut off or abridge substantial vested rights.
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Appeal from tbe District Court of Ransom County, Allen, J. Tbe appellant should be subrogated to all tbe rights of tbe state as a preferred creditor of tbe insolvent bank. Rev. Codes 1905, § 7387; Rev. Codes 1905, §§ 6109, 6110. ■ A change in legislation cannot operate to cut off or abridge substantial vested rights. Eaton v. Guarantee Co. 11 N. D. 79, 88 N. W. 1029; James River Lumber Co. v. Danner, 3 N. D. 475, 57 N. W. 343. Tbe rule is well settled that statutes are to be given only a prospective operation, unless a different legislative intent is manifest. Sutherland Stat. Constr. §§ 463…
1Opinion of the CourtBueeb, J.
The Buttzville State Bank was incorporated in the year 1909 under the state law; on the 7th day of February, 1910, it applied to the board of auditors of the state of North Dakota to^ be named as a depositary of state funds, and the Dakota Trust Company became surety upon its bond for the faithful performance of its duties as such. Thereafter the state treasurer deposited various sums in the said bank in accordance with the state law upon that subject, and on the 18th *198of July, 1910, bad the sum of $1,207.80 in said depositary, when the bank closed its doors and suspended payment. The assets…
2Cases cited8 opinions
- Beggs v. PaineNorth Dakota Supreme Court · 1906
- Blakemore v. CooperNorth Dakota Supreme Court · 1905
- Fisher v. BettsNorth Dakota Supreme Court · 1903
- Adams & Freese Co. v. KenoyerNorth Dakota Supreme Court · 1908
- Craig v. HerzmanNorth Dakota Supreme Court · 1899
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3Cited by1 opinion
- United States Fidelity & Guaranty Co. v. Citizens State BankNorth Dakota Supreme Court · 1917