American Trust Co. v. Jenkins

The Security Savings Bank, a corporation organized and doing business under and by virtue of the banking laws of North Carolina with its principal office and place of business in Mecklenburg County, was duly adjudged insolvent during the month of August, 1924; plaintiff, American Trust Company, was thereupon appointed receiver of said bank by the Superior Court of Mecklenburg County; it is now engaged in the performance of its duties as such receiver.

The assets of said Security Savings Bank, all of which have passed into the hands of the receiver, are not sufficient to pay the claims of…