State v. Walsen
Supreme Court of Colorado
Error to District Court of Arapahoe County. This is one of several cases instituted in the court below for the purpose of determining the right to moneys received as interest by certain state treasurers upon state funds deposited in bank. The suits are against the treasurers and their bondsmen.
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Error to District Court of Arapahoe County. This is one of several cases instituted in the court below for the purpose of determining the right to moneys received as interest by certain state treasurers upon state funds deposited in bank. The suits are against the treasurers and their bondsmen. During defendant in error Walsen’s term of office the bond of the treasurer was increased from $100,000 to $800,000, and Walsen, having theretofore given a bond in the former sum, filed an additional bond in the sum of $200,000. In this respect only this case differs from the others. The grounds of the…
1Opinion of the CourtChief Justice Hayt
It is contended by appellant that the state treasurer is a bailee or trustee of the public funds and as such subject to the common law liabilities of trustees.
Absolute liability of the treasurer and his sureties for all public moneys received by him as treasurer, is fixed by the state constitution. In this respect the obligation of the treasurer is different from that of an ordinary trustee. Such a trustee is only held to the exercise of reasonable care with reference to the property. If the trust funds are stolen or otherwise lost without fault of the trustee, he is not liable. Not so,…
2Cases cited9 opinions
- Perley v. County of MuskegonMichigan Supreme Court · 1875
- Renfroe v. ColquittSupreme Court of Georgia · 1885
- Rock v. StingerIndiana Supreme Court · 1871
- Wilson v. Wichita CountyTexas Supreme Court · 1887
- Shelton v. State ex rel. Board of Commissioners of Morgan Co.Indiana Supreme Court · 1876
4 more not listed; retrieve them via the Exa API.
3Cited by22 opinions
- Adams v. WilliamsMississippi Supreme Court · 1910
- Wilson v. PeopleSupreme Court of Colorado · 1893
- Rhea v. BrewsterSupreme Court of Iowa · 1906
- Wright v. PeopleSupreme Court of Colorado · 1939
- Gartley v. People ex rel. Pueblo CountySupreme Court of Colorado · 1897
17 more not listed; retrieve them via the Exa API.