Bank Commissioners v. New Hampshire Banking Co.
Supreme Court of New Hampshire
Decree, as to the distribution of funds in the hands of a receiver, made at the January term, 1907, of the superior court by Peaslee, J., after hearing the facts.
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Decree, as to the distribution of funds in the hands of a receiver, made at the January term, 1907, of the superior court by Peaslee, J., after hearing the facts. The defendant bank began business in 1880, and received special deposits, constituting a guaranty fund under the charter (Laws 1879, o. 131), to the amount of $125,000. Under vote of the trustees, general depositors were entitled to three and one half per cent per annum as interest upon their deposits in 1897, and that rate had been paid for several years prior thereto. April 29, 1897, the trustees, with the concurrence of the bank…
1Opinion of the CourtParsons, C. J.
The defendant bank under its charter was authorized to receive deposits of money on such terms and conditions as might be prescribed by it or its trustees, or be agreed to by the parties making the same, and to receive special deposits to constitute a permanent guaranty fund. Laws 1879, c. 131, ss. 2, 3. The charter contemplates two classes of depositors: “general depositors ” and “ special depositors for the guaranty fund.” In the ordinary savings bank the general depositors in some respects .are stockholders, and their claims in case of insolvency are postponed to the claims of creditors.…
2Cases cited3 opinions
- Cogswell v. Rockingham Ten Cents Savings-BankSupreme Court of New Hampshire · 1879
- Francestown Savings Bank CaseSupreme Court of New Hampshire · 1884
- Hall v. ParisSupreme Court of New Hampshire · 1879
3Cited by8 opinions
- Appeal of Concerned Corporators of the Portsmouth Savings BankSupreme Court of New Hampshire · 1987
- People's Trust Co. v. United StatesCourt of Appeals for the First Circuit · 1928
- Family Savings & Loan Ass'n Shareholders' Protective Committee v. StewartCourt of Appeals of Maryland · 1966
- Bank Commissioners v. Security Trust Co.Supreme Court of New Hampshire · 1908
- In Re City Savings BankSupreme Court of New Hampshire · 1973
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