First & Citizens National Bank v. Corporation Commission

Were the funds in the hands of the Carolina Banking and Trust Company, former guardian of plaintiff guardian’s wards, divested of their character as trust funds, when placed or deposited by said bank in its own vaults, under the circumstances of this case? We think so.

The agreed facts show: “That, when so placed or deposited, the moneys received belonging to one of the estates aforesaid was not kept separate and distinct from tbe moneys belonging to tbe other estates aforesaid, or from tbe moneys received by said bank in tbe usual course of its general banking business — all sucb moneys being…