Lankford v. Platte Iron Works Co.

Citations

• 235 U.S. 461
• 35 S. Ct. 173
• 59 L. Ed. 316
• 1915 U.S. LEXIS 1835

Syllabus

<p>The decision of state tribunals in regard thereto is an important element to be considered in determining the interest which the State has in a fund administered by a state board.</p> <p>The state courts of Oklahoma having held that the statute creating the State Banking Board intended to give the State a definite title to the Depositors’ Guaranty Fund, the fact that the fund is to be used to satisfy claims of beneficiaries does not take its administration from the officers of the State or subject them to judicial control. This court will not assume that the fund will not be faithfully managed and applied. Murray v. Wilson Distilling Co., 213 U.'S. 151.</p> <p>A suit by a depositor in a bank in Oklahoma against members of the State Banking Board and the Bank Commissioner of Oklahoma to compel payments, from, distribution of, and assessments for, the Depositors’ Guaranty Fund, is. a suit against the State, and, under the Eleventh Amendment, cannot be maintained in the Federal court.</p>