Crane v. Pacific Bank

Citations

• 106 Cal. 64
• 39 P. 215
• 1895 Cal. LEXIS 570

Syllabus

<p>Insolvent Bank—Bank Commissioners’ Act—Attachment for Monet Deposited—Dissolution.—The assets of an insolvent bank are to be administered exclusively under the Bank Commissioners’ Act for the benefit of all the depositors and creditors of the bank, as well as its stockholders; and where a commercial bank has suspended and closed its doors, owing to insolvency in fact, the right of attachment by a depositor or creditor of the bank does not exist, and such an attachment will be dissolved although levied before the machinery of the Bank Commissioners’ Act was put in motion by the commencement of an action by the people.</p> <p>Id.—Motion to Dissolve Attachment—Evidence—Judgment Declaring Bank Insolvent—Pleadings.—Upon a motion to dissolve an attachment against an insolvent bank, a suit by the people under the Bank Commissioners’Act under which the court has adjudged the bank insolvent is admissible in evidence, and is conclusive for all the purposes of the action, and binding upon the attaching creditor, so far as concerns his right to maintain his attachment; and the pleadings in the action are properly read upon the motion, for the purpose of showing that the judgment was rendered in a case within the statute.</p>