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Supreme Court rules state ownership of bank funds in trust
The Idaho Supreme Court reverses a lower ruling and directs payment to the State from the bank receiver. The decision holds public funds deposited in a bank on general deposit are not the bank’s property and must be paid to the State, framing the bank as a trustee and condemning improper mingling or use of such funds. The ruling emphasizes that the State never consented to general deposits and that banks must treat public money as special deposits.
MENTIONED IN THIS ARTICLE
Supreme Court
E. Thum
C. Buniing & Co
C. Bunting
Steunenberg
Anderson
Hawley & Puckett
Standrod
Thum
Quarles
District Court
Bar
C. Bunting & Co
Territorial
Wolffe
State
First National Bank
Hummel
Midland State Bank
Neb
N. W
Foster
Rinckner
Pac
Kimmel
Dickson
Winslow
Harriman Iron Co
S. W
Hubbard
Almo Irrigating & Mining Co
Ryan
Phillips
City of Larned
Jorden
Vane Vs
A.s
Q. Bunting
Storer
C. E. Thum
C. Bunting &O
Banking Corporation