Security State Bank of San Juan v. State

McClendon, chief justice.

Suit by the State to enjoin the-Bank (Security State Bank of San Juan) in volun- • tary liquidation from reopening, and to compel its further liquidation. In a trial to the court the judgment was for the State and the Bank has appealed.

The question presented by the appeal which we regard as paramount is: whether a solvent state bank, that has gone into voluntary liquidation' under the provisions of Art. 539, R.C.S., has the right thereafter to resume the banking business without the approval or consent of the’ Board (State Banking Board).

We believe a chronological…