Molner v. South Chicago Sav. Bank

SPARKS, Circuit Judge.

This is an appeal by a judgment creditor from an order discharging appellee as garnishee-defendant. The appeal raises the question whether bank stock, deposited by its owner to qualify him to act as bank director, pursuant to statute requiring such deposit, is exempt from garnishment by a judgment creditor during the term of the directorship. No question is raised generally as to the liability of shares of bank stock to garnishment, but appellee contends, and the District Court so held, that under the facts here presented such stock is not subject to garnishment under…