Federal Deposit Insurance v. Department of Financial Institutions

Curtis, J. —

The controlling facts in this case are not in dispute and may be summarized as follows: During the month of January, 1934, the Scottsburg State Bank, which at the time of its liquidation as hereinafter referred to was an insured bank under the Federal Deposit Insurance Law, being thus insured by the appellant, Federal Deposit Insurance Corporation, obtained funds from the appellee, Reconstruction Finance Corporation, and certain individuals. For brevity in this opinion, the said Scottsburg State Bank will be referred to as the “Bank,” and the appellant referred to as “FDIC,” and…