Baird v. Stephan

Christianson, Ch. J.

On February 26th, 1921, the Bank of San-born was closed. Thereupon, the State Examiner took charge, and one of his deputies made an examination of the bank. After such examination, the State Examiner advised the stockholders and directors that the bank would be permitted to re-open on the following conditions: (1) Each and all of the depositors therein must sign an agreement to leave their moneys then on deposit in the bank for a certain stated period of time; (2) the cash reserve required by law must be supplied; and.-(3) certain bills receivable (consisting of notes, and…