Lanz v. Fresno Loan & Savings Bank

Citations

• 125 Cal. 456
• 58 P. 63
• 1899 Cal. LEXIS 881

Syllabus

<p>Bank—Liquidation under Advice of Bank Commissioners—Control oe Officers—Action by Depositor.—The closing of the doors of a bank, and the liquidation of its affairs under the control of its officers by the advice of the bank commissioners, in the absence of any proceedings, taken under the banking act, is no defense to an action by a depositor, who has been wholly neglected in the distribution of its assets, to recover the amount of his deposit.</p> <p>Id—Stoppage ' of Payment—Bight of Action—By-law as to Notice—Case Followed.—The stoppage of payment by the bank gave a right of action to the plaintiff for the recovery of his deposit, without regard to compliance on his part with a bylaw requiring notice to be given to the bank of the intended withdrawal of moneys deposited. Mitchell v. Beckman, 64 Cal. 117, approved and followed.</p>