State ex rel. Griffith v. Bone

The opinion of the court was delivered by

Harvey, J.:

In a posi-opinion motion, plaintiff asks whether the liability, to the extent of its bonds or money pledged, of a member bank which withdraws from the guaranty act, or which liquidates its affairs, is measured, (1) by certificates actually issued on the bank depositors’ guaranty fund at the date of such withdrawal or liquidation; or (2) by the liability of the bank depositors’ guaranty fund to depositors of member banks, which had previously failed, whether or not certificates have been issued to such depositors?

*152When a member bank fails* and…