Marion National Bank v. Thompson
Court of Appeals of Kentucky
Case 47 — PETITION EQUITY 1. National banks are not regulated by State laws with reference to penalties and forfeiture's for charging usurious interest, and their action must be controlled exclusively by the Federal laws. Farmers’ & Mechanics’ Nat. Bank. v. Dearing, 91 U. S., 29; Bran v. Munsey National Bank, 98 U. S., 555; Stephens v. Monongahela National Bank, 111 II. S.,-137; Center Nat. Bank v. Pratt, 115 Mass., 539; First Nat.
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Case 47 — PETITION EQUITY 1. National banks are not regulated by State laws with reference to penalties and forfeiture's for charging usurious interest, and their action must be controlled exclusively by the Federal laws. Farmers’ & Mechanics’ Nat. Bank. v. Dearing, 91 U. S., 29; Bran v. Munsey National Bank, 98 U. S., 555; Stephens v. Monongahela National Bank, 111 II. S.,-137; Center Nat. Bank v. Pratt, 115 Mass., 539; First Nat. Bank v. Garland, 22 Ohio State, 492; Davis v. Randall 115 Mass., 547; Huntermeister v. First National Bank, 64 N. Y., 212; Wheeler v. Starback, 44 Ind., 298;…
1Opinion of the Court
JUDGE PAYNTER
delivered tii'e opinion of the court.
On September 29, 1885, G. T. Thompson with O. R. Thompson surety presented a promissory note to the Marion National Bank for discount, payable four months after daté for $4,304 40. The bank reserved the interest at 7 per cent. It paid Thompson $4,199 83, reserving $104 57, which was the interest for the time stated. The note was renewed every four months, the three days of grace added until the 27th of November, 1893, when the note in question for *279$4,000 was executed. The interest was paid at the time of the various renewals, except June 7th,…
2Cases cited6 opinions
- United States v. Union Pacific RailroadSupreme Court of the United States · 1875
- Barnet v. National BankSupreme Court of the United States · 1879
- Stephens v. Monongahela BankSupreme Court of the United States · 1884
- Henderson National Bank v. AlvesCourt of Appeals of Kentucky · 1891
- Alves v. Henderson National BankCourt of Appeals of Kentucky · 1888
1 more not listed; retrieve them via the Exa API.
3Cited by5 opinions
- Taulbee v. HargisCourt of Appeals of Kentucky · 1917
- Citizens Nat. Bank v. Forman's AssigneeCourt of Appeals of Kentucky · 1901
- Moss v. First Nat. Bank of Horse Cave's Rec.Court of Appeals of Kentucky (pre-1976) · 1933
- Lindon v. Morgan County Nat. BankCourt of Appeals of Kentucky (pre-1976) · 1938
- Citizens Nat. Bank v. Forman's AssigneeCourt of Appeals of Kentucky · 1901