Andrew v. First Trust & Savings Bank

This case was affirmed by operation of law on June 24, 1932, because of an equally divided court. A petition for rehearing was filed, and we are asked to give our opinion as to the legal right of the Superintendent of Banking of the state of Iowa, as receiver of such corporations, .to make application to borrow money from the Reconstruction Finance Corpora tion, and the power of the court to which such application is made, to grant such right and privilege.

The receiver we have to deal with in cases of this character is a statutory receiver, and not a general chancery receiver, and his rights…