Board of County Commissioners v. Foster

Citations

• 113 Kan. 180
• 213 P. 1054
• 1923 Kan. LEXIS 360

Syllabus

<p>syllabus by the court.</p> <p>1. Bank Guaranty Bund — Certain County Deposits Not Within Protection oj State Bank Guaranty Fund. A deposit subject to check bearing interest in excess of a rate, uniform within the county, that has been approved by the bank commissioner, is not within the protection of the state bank guaranty fund.</p> <p>2. Same — Bank Commissioner May Fixe Maximum Interest Which Banks in Each County May Pay on Deposits — Statute Constitutional. The statute authorizing the bank commissioner to fix a maximum rate of interest, uniform within each county, which banks may pay upon deposits to be permitted to participate in the benefits of the bank guaranty act, is not unconstitutional as an improper delegation of legislative power to an administrative officer.</p> <p>3. Same — County Deposits Not State Deposits. County deposits are not state deposits within the meaning of sections 10955 to 10972 of the General Statutes of 1915.</p> <p>4. Same — Certain Bank Deposits Not Within the Protection of State Bank Guaranty Fund. The fact that a county may designate a county depository and receive interest in excess of two per cent in accordance with section 2788, of the General Statutes of 1915, would not bring the deposit within the protection of the bank guaranty act if the rate received by the county is in excess of a rate, uniform within the county, that was approved by the bank commissioner.</p>