Legal Opinion
Union Bank & Trust v. Pay
South Dakota Supreme Court
Decided December 2, 1971No. File 10923PublishedCited by 1 opinion
1Opinion of the Court
HANSON, Judge.
The question presented on this appeal is whether or not a state member bank of the Federal Reserve System retains the benefit of a state statutory lien on bank stock owned by stockholders indebted to the bank. From an adverse decision the plaintiff Union Bank & Trust corporation appeals.
According to the stipulated facts Union Bank & Trust of Sioux Falls, South Dakota, is a state chartered bank which is also a member of the Federal Reserve System. The defendant First National Bank of Sioux Falls is a national bank chartered under federal laws. The defendants, Milton A. Pay and…
2Cases cited7 opinions
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- National Bank of Xenia v. StewartSupreme Court of the United States · 1883
- Bullard v. BankSupreme Court of the United States · 1874
- Nicollet National Bank v. City BankSupreme Court of Minnesota · 1887
- Third Nat. Bank of Buffalo v. Buffalo German Ins. Co.Supreme Court of the United States · 1904
2 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- Travis v. Del State BankSupreme Court of Oklahoma · 1976