Smith v. Jones

*777Opinion op the Court by

Chief Justice Settle

Affirming’.

On February 6th, 1915, the Central City Deposit Bank, a corporation organized under the laws of Kentucky and conducting a banking business at Central City, was declared by the appellant, Thomas J. Smith, then Banking Commissioner of the State, and the board of directors, to be insolvent. Whereupon, the Banking Commissioner under authority conferred by section 165a, subsection 17, Kentucky Statutes, took charge of the bank, its property and assets for the purpose of winding up its affairs, and, to the extent of its assets, discharging its…