State ex rel. Spillman v. Farmers State Bank

This action arises out of the failure of the Farmers State Bank of Adams, Nebraska, and involves the question as to whether three certificates of deposit, issued by that bank to the Union Automobile Insurance Company, hereinafter called the claimant, should be allowed as preferred claims and ordered payable out of the depositors’ guaranty fund.

1 Claimant presented to the receiver, for allowance as preferred claims, four certificates of deposit — two for $2,000 each and two for $1,500 each. The receiver objected to the allowance of any of the claims, on-the theory that the certificates did not…