Wasson v. State

• Decision Date: 05 June 1933
• Docket Number: No. 4-3104.,4-3104.
• Citation: 60 S.W.2d 1020
• Parties: WASSON, Bank Com'r, v. STATE ex rel. JACKSON.
• Court: Arkansas Supreme Court

60 S.W.2d 1020

WASSON, Bank Com'r, v. STATE ex rel. JACKSON.

No. 4-3104.

Supreme Court of Arkansas.

June 5, 1933.

Appeal from Pulaski Chancery Court; Frank H. Dodge, Chancellor.

Proceeding by the State, on the relation of one Jackson, to the use of Sevier County, against Marion Wasson, Bank Commissioner. From an order requiring Bank Commissioner to pay county an unpaid balance on a judgment previously recovered, the Bank Commissioner appeals.

Affirmed.

Sam Rorex and Leon B. Catlett, both of Little Rock, for appellant.

J. M. Jackson, of Nashville, Lake, Lake & Carlton, Abe Collins, E. K. Edwards, and B. E. Isbell, all of De Queen, for appellee.

J. H. Black, of Yellville, George M. Gibson, of Walnut Ridge, and Walter L. Pope, of Little Rock, amici curiæ.

HUMPHREYS, Justice.

This is an appeal from a final order or judgment of the chancery court of Pulaski county, requiring appellant state bank commissioner to pay appellee Sevier county an unpaid balance due it of $16,268.39 on a judgment it recovered against appellant for $33,649.69 as a preferred claim on June 21, 1932, which was affirmed on appeal by this court on December 5, 1932. Taylor v. State, 55 S.W.(2d) 83.

At the time of the rendition of said judgment and the affirmance thereof, all claims which might have been filed in the insolvency proceeding against the American Exchange Trust Company, the assets of which were being administered by appellant bank commissioner, had been filed and most of them allowed as general or preferred claims.

When the American Exchange Trust Company closed its doors, there was sufficient cash in the bank which was received by appellant to pay all preferred claims, including appellee's claim. The time for filing claims against said bank had then expired under the provisions of section 54, Act No. 113, p. 491, of the Acts of 1913, as amended by section 5, Act No. 627, p. 520, of the Acts of 1923, which is as follows: "No claims shall be allowed unless proof thereof has been presented to the commissioner within one year from date on which commissioner takes over the assets of the liquidated bank."

The only defense interposed to the payment of the balance due Sevier county on its preferred judgment claim is Act No. 277 of the Acts of 1933, which, omitting formal parts, is as follows:

"Section 1. In all cases where banks in the State of Arkansas are being liquidated by the Bank Commissioner and the one year given by Section 54 of Act 133 of the Acts of 1913,...