City of Marion v. Sneeden

delivered the opinion of the Court..

The Act of June 25, 1930, e. 604, 46 Stat. 809, amends § 45 of the National Bank Act of 1864 1 by adding thereto the following:

“Any association may, upon the deposit with it of public money, of a State or any political subdivision thereof, give security for the safe-keeping and prompt payment of the money so deposited, of the same kind as is authorized by the law of the State in which such association is located in the case of other banking institutions in the State."

The controlling question is whether Illinois has con- - ferred upon banks organized under ,…