Morecock v. . Hood

The order of preference in the distribution of the assets of an insolvent bank is prescribed in section 218(c), subsection 14, of the North Carolina Code of 1931. Preference is allowed, so far as pertinent here, on a certified check and a cashier’s check in the hands of a third party as a holder for value, and on amounts due on collections made and not remitted or for which final actual payment has not been made by the bank. Subsection 14 contains this proviso: "Provided, that when any bank, or any officer, clerk, or agent thereof, receives by mail, express, or otherwise, a check, bill of…