Legal Opinion
Commissioner of Internal Revenue v. Ames Trust & Sav. Bank
Court of Appeals for the Eighth Circuit
Decided November 10, 1950No. 14082_1PublishedCited by 29 opinions
1Opinion of the Court
JOHNSEN, Circuit Judge.
A state hank of Iowa accepted time deposits, for periods of six or twelve months, and issued certificates of deposit therefor, upon a form as follows:
“Certificate of Deposit Ames Trust and Savings Bank
Ames, Iowa,.........192.. No.............................. has deposited in
this Bank...............Dollars $......
payable to the order of................in
current funds on the return of this Certificate properly endorsed..................
months after date-with interest at the rate
of............per cent per annum. ■
No interest after maturity Not subject to check
Cashier…
2Cases cited4 opinions
- Elliott v. Capital City State BankSupreme Court of Iowa · 1905
- Economy Sav. & Loan Co. v. CommissionerUnited States Tax Court · 1945
- Economy Savings & Loan Co. v. Commissioner of Int. Rev.Court of Appeals for the Sixth Circuit · 1946
- Ames Trust & Sav. Bank v. CommissionerUnited States Tax Court · 1949
3Cited by29 opinions
- Capital Nat'l Bank v. CommissionerUnited States Tax Court · 1951
- National Bank of Commerce v. CommissionerUnited States Tax Court · 1951
- Commissioner v. Valley Morris PlanCourt of Appeals for the Ninth Circuit · 1962
- Federal Deposit Ins. Corp. v. Pioneer State BankNew Jersey Superior Court Appellate Division · 1977
- United States v. City Loan and Savings CompanyCourt of Appeals for the Sixth Circuit · 1961
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