Allied Fidelity Insurance Co. v. Bank of Oklahoma, National Ass'n

SUMMERS, Justice.

The only issue before us in this suit by a depositor against its bank is whether the statute of limitations bars the claim. Bank argues the time-bar commenced running when bank notified depositor it had paid out funds represented by depositor’s certificates of deposit to the wrong person. Depositor maintains the statute didn’t start to run until it unsuccessfully made demand on the bank for its money. The trial court and Court of Appeals held that limitations had run and gave bank summary judgment. On certiora-ri we conclude that depositor is correct, and thus reverse and…