Thorman v. State Bank of Waverly

Lees, C.

Plaintiff sued on a .certificate of deposit issued to him by the defendant bank on December 21, 1923, and made payable 12 months after date. Tbe certificate was presented for payment on -May 22, 1925, and payment was refused.

Tbe answer admitted the allegations of the complaint and alleged as a defense that on September 24, 1924, tbe superintendent of banks closed and took charge of tbe defendant bank; that it remained in bis charge until May 11, 1925, when pursuant to chapter 38, p. 37, L. 1925, it was reopened with bis permission under a “reduction agreement” approved by him, which…