First Nat Bank of San Jose v. State of California, 276

Decision Date04 June 1923
Docket NumberNo. 276,276
Citation43 S.Ct. 602,67 L.Ed. 1030,262 U.S. 366
PartiesFIRST NAT. BANK OF SAN JOSE v. STATE OF CALIFORNIA et al
CourtU.S. Supreme Court

Mr. S. F. Leib, of San Jose, Cal., for plaintiff in error.

Mr. U. S. Webb, Atty. Gen., of San Francisco, Cal., for defendants in error.

Mr. Justice McREYNOLDS delivered the opinion of the Court.

Section 1273, California Code of Civil Procedure, declares:

'All amounts of money heretofore or hereafter deposited with any bank to the credit of depositors who have not made a deposit on said account or withdrawn any part thereof or the interest and which shall have remained unclaimed for more than 20 years after the date of such deposit, or withdrawal of any part of principal or interest, and where neither the depositor or any claimant has filed any notice with such bank showing his or her present residence, shall, with the increase and proceeds thereof, escheat to the state.'

It further directs the Attorney General to institute actions in the superior court for Sacramento county against banks and depositors to recover all such amounts——

'and if it be determined that the moneys deposited in any defendant bank or banks are unclaimed as hereinabove stated, then the court must render judgment in favor of the state declaring that said moneys have escheated to the state and commanding said bank or banks to forthwith deposit all such moneys with the state treasurer, to be received, invested, accounted for and paid out in the same manner and by the same officers as is provided in the case of other escheated property.'

Section 15 of the Bank Act (St. 1909, p. 90) contains similar provisions.

In a proceeding under section 1273 the trial court gave judgment for the state against plaintiff in error for the amount credited upon its books to P. A. Campbell for more than 20 years, and this was affirmed by the Supreme Court. State v. Anglo & London Paris Nat. Bank of San F ancisco, 186 Cal. 746, 200 Pac. 612. We are asked to hold that, so construed and applied, this section conflicts with the laws of the United States touching national banks and is therefore invalid.

The trial court found——

That for more than 20 years prior to the institution of this action there was on deposit with the said defendant bank to the credit of P. A. Campbell the sum of $1,192.25; that for more than 20 years prior to the institution of this action the said P. A. Campbell has not made any deposit to the credit of said account, or withdrawn any part thereof or any interest or dividends accruing thereon; that the said money and account so deposited and all accruing interest and dividends thereon have remained unclaimed for more than 20 years after the same were so deposited or credited, and after the withdrawal of any part of the principal or interest or dividends, and said moneys and account now are unclaimed; that the date of the last transaction in connection with the said deposit of the said P. A. Campbell, whether by deposit or withdrawal of any portion of such account, or by withdrawal of any interest or dividends accruing thereon, was on the 10th day of November, 1880; that neither the said depositor nor any claimant of the said deposit or account, or of any interest or dividends thereon, has filed any notice with the said defendant bank showing the present residence of the said P. A. Campbell, and the said P. A. Campbell is not known to the president or to the managing officers of the said defendant bank to be now living; that the name of the said depositor, P. A. Campbell, together with the date of the last transaction in connection with his said deposit or account, and the amount now on deposit in the said defendant bank to the credit of the said depositor, were all contained in the annual statement of the said defendant bank filed with the state controller of the state of California in January, 1917, as required by law, and the Attorney General of the state of California has been informed of all of the foregoing facts.

The Supreme Court declined to express an 'opinion upon the question whether the judgment of the superior court herein operates as a present escheat of the rights of the several depositors against the respective banks, or whether under section 1272 they each still have the right within the time there stated to prosecute an action to obtain payment of their several deposits from the state treasurer,' and said, 'if they have such right, the judgment of the superior court would not be a bar thereto.'

Section 5136, U. S. Revised Statutes (Comp. St. § 9661)...

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