Prince v. Franklin Nat. Bank

• Decision Date: 10 February 1970
• Citation: Prince v. Franklin Nat. Bank, 62 Misc.2d 855, 310 N.Y.S.2d 390 (N.Y. Sup. Ct. 1970)
• Parties: Jayne PRINCE and J.P.J. Contractors, Inc., Plaintiffs, v. FRANKLIN NATIONAL BANK, Defendant.
• Court: New York Supreme Court

Page 390

310 N.Y.S.2d 390

62 Misc.2d 855

Jayne PRINCE and J.P.J. Contractors, Inc., Plaintiffs, v.FRANKLIN NATIONAL BANK, Defendant.

Supreme Court, Special Term, Nassau County, Part I.

Feb. 10, 1970.

Goldwater & Flynn, New York City, for plaintiffs.

Sahn, Shapiro & Epstein, New York City, for defendant.

MEMORANDUM

MARIO PITTONI, Justice.

Defendant's motion to change the place of trial of this action from Queens County to Nassau County is granted.Plaintiffs' request that defendant's motion be denied or alternatively that the motion be adjourned until after an examination before trial is had is denied.

This action is for the alleged conversion by defendant bank of stocks owned by plaintiffs(residents of Queens County) and held to secure a loan made to C. John Prince.

Title 12, Section 94, United States Code grants to national banking associations the privilege of having the venue of any action brought against it located 'in any State * * * court in the county * * * in which said association is located * * *.'It is uncontroverted that defendantFranklin National Bank is 'located' in Nassau County.Furthermore, the mere presence of branch offices in Queens County does not locate defendant bank in that county for venue purposes (Leonardi v. Chase Nat. Bank of City of New York, 81 F.2d 19, Cir. 1936, cert. denied 298 U.S. 677, 56 S.Ct. 941, 80 L.Ed. 1398).'The provisions of the Federal statute are mandatory upon the state courts'(Stephen-Leedom Carpet Co. v. Republic Nat. Bank of Dallas, 25 A.D.2d 645, 268 N.Y.S.2d 377, 1st Dept. 1966).

There is no doubt that all of plaintiffs' contacts with defendant bank regarding the loan took place in Nassau County.Plaintiffs contend, however, that if custody and sale of the stocks by defendant occurred in Queens County then defendant would have waived its statutory...