Second Federal Savings & Loan Ass'n v. Evatt

The question here presented is whether such accounts and credits arising in the manner above indicated were properly taxable as deposits. Section 5324, General Code, provides as follows:

“The term ‘deposits’ as so used, includes every deposit which the person owning, holding in trust, or having the beneficial interest therein is entitled to withdraw in money, whether on demand or not, and whether evidenced by commercial or checking account, certificate of deposit, savings account or certificates of running or other withdrawable stock, or otherwise, excepting (1) unearned premiums and surrender…