Legal Opinion
Haugo v. Federal Deposit Insurance
South Dakota Supreme Court
Decided August 23, 1944No. Files Nos. 8654 and 8659Published
1Opinion of the CourtSmith, J.
The Badger State Bank suspended operations on August 3, 1940. Thereafter, between August 15 and November 27, 1940, the Federal Deposit Insurance Corporation satisfied the principal amount of the bank’s insured deposits. When it appeared that a surplus might remain in the hands of the Superintendent of Banks after paying the expenses of liquidation and the claims of creditors, the F. D. I. C. made claim as the subrogee, or assignee, of depositors for interest on the aggregate amount of its payments from the date of the suspension of the bank. This claim was rejected by the Superintendent of…
2Cases cited24 opinions
- American Iron & Steel Manufacturing Co. v. Seaboard Air Line RailwaySupreme Court of the United States · 1914
- National Bank of the Commonwealth v. Mechanics' National BankSupreme Court of the United States · 1877
- Stewart v. BarnesSupreme Court of the United States · 1894
- New Orleans v. Gaines's AdministratorSupreme Court of the United States · 1891
- People v. . Merchants' Trust Co.New York Court of Appeals · 1907
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