Pallange v. Liberty State Bank

The following opinion was filed October 9, 1934:

Fairchild, J.

This appeal presents a question as to the extent of the powers of the commissioners of banking over causes of action belonging to a bank in the process of liquidation. Some unusual features are present for the reason that the commissioners, under the banking act, are statutory receivers and not receivers appointed by the court. Sub. (3) of sec. 220.08, Stats., reads :

“Upon taking possession of the property and business of such bank or banking corporation, the commissioner is *420authorized to collect moneys due to such bank or banking…