Wasson, Bank Commissioner v. Pledger

This suit was begun by appellees in the Jefferson Chancery Court asking for ' judgment against the appellant, Marion Wasson, as Bank Commissiouer of the State of Arkansas in charge of the property and affairs of the Cotton Belt Bank & Trust Company and the National Bank of Commerce of Pine Bluff for $13,850.91 with interest. They asked that it be adjudged a preferred claim entitled to priority, and that it be paid in full before other claims are paid out of the assets of the Cotton Belt Bank & Trust Company.

On May 6, 1932, the county board of education of Jeiferson county adopted a resolution…