Gutierrez v. Lee

CARROLL, Chief Justice.

An insolvent savings and loan association and its liquidator appeal a judgment declaring that: (1) the claims of individual retirement account depositors are entitled to priority over other deposits; and (2) a federal suit tolled limitations as to the depositors’ claims. We conclude that the federal suit did not toll limitations. Consequently, we reverse the trial court’s judgment and remand this cause for further proceedings.

BACKGROUND

The facts of this case are undisputed. Before its demise, Rio Grande Savings and Loan in Harlingen was the last uninsured savings and…