Brand v. Arroyo-Colorado Navigation Dist. of Cameron & Willacy Counties

MURRAY, Justice.

Appellee, Arroyo-Colorado Navigation District of Cameron and Willacy Counties, Tex., brought this 'suit against E. 0. Brand, as Banking Commissioner of Texas and as receiver of Arroyo State Bank of Rio Hondo, Tex., and against the said Arroyo State Bank as principal and C. L. Maddox and eight other individuals as sureties on a depository bond.

Appellee had $19,273.08 on deposit with the bank when it failed and was taken over by the Banking Commissioner. Appellee held certain bonds as security for its deposit, and these bonds were delivered to it by the Banking Commissioner at…