State Ex Rel. Rankin v. Madison State Bank

On October 7, 1925, Alexander McKinnon filed, in the matter of the receivership of the Madison State Bank, a taxpayer’s petition seeking to require the receiver to recognize the claim of Madison county as a preferred claim; issue was joined and a hearing had. The hearing resulted in an order denying the relief sough , and from this order the petitioner has appealed.

While other questions are raised in the pleadings and by counsel in their briefs, the only contention we need consider is that the funds in the bank, at the time it closed, were illegally deposited and constituted a trust fund,…