Smiley v. Citibank

Opinion

MOSK, Acting C. J.

We granted review in this cause—which is one of numerous similar matters brought in federal and state courts throughout the *142nation—in order to consider the meaning and effect of section 30 of the National Bank Act of 1864. In pertinent part and without substantive change, the provision has been incorporated in section 5197 of the Revised Statutes of 1878, and has been codified in section 85 of title 12 of the United States Code (hereafter section 85), which is its common designation. As relevant here, it provides that a national banking association, or, more simply, a…