Articles (Lincoln Journal Star, 1928-07-06) describe the state guaranty fund commission taking charge of the Citizens State Bank of Benkelman; no run is mentioned. The commission was operating the bank as a going concern while determining whether to continue operations or wind up affairs, and the piece concerns immunity of assets from levy while in commission hands. The eventual permanent fate (reopen vs. close) is not stated; the bank was being operated by the commission, so I classify as suspension_reopening as the commission was running it as a going concern (explainable as a temporary suspension under government action). OCR typos corrected: kleman -> Benkelman.
Events (1)
1.June 1, 1928*Suspension
Cause
Government Action
Cause Details
State guaranty fund commission took charge of the bank (bank placed in commission/receivership and operated by commission).
Newspaper Excerpt
The case came from Dundy county, where merchandise creditor sought to levy on the assets of the Citizens' bank of Benkleman within month after the commission took charge and was operating going concern.
Source
newspapers
Newspaper Articles (2)
1.July 6, 1928Lincoln Journal StarLincoln, NE
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Article Text
CAN'T LEVY UPON OF BANKS
WHEN IN HANDS OF COMMISSION THEY ARE IMMUNE.
Court Also Holds That as Long Bank Is Operated by Commission Suit May Be
The state guaranty fund commission won one important supreme court Friday, and dropped another of almost equal importThe was one from Dundy county, which involved the question of the assets state bank charge of the commission are from seizure on on judgments secured against the institution. The court, in an opinion by Judge Good, holds that when the bank taken over the titled time in which whether may to its officers and operated going concern shall closed and affairs up. During that time the assets be levied by the judgment cred itors of the bank. What reasonable time which to make such deter mination is held to question fact, determined from the facts and ex isting the particular case. Where creditor complains that the time unreasonable the burden of proof on him. The case came from Dundy county, where merchandise creditor sought to levy assets the Citizens' bank of kleman within month after the commission took charge and while conThe creditors raised the constitutionality of the the appel
2.July 6, 1928Lincoln Journal StarLincoln, NE
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Article Text
MAJ. ARTHURO FERRARIN UPON SHARES IN FLIGHT HONORS OF
WHEN IN HANDS OF COMMISSION THEY ARE IMMUNE.
Court Also Holds That as Long Bank Is Operated by Commission Suit May Be Maintained.
The state guaranty fund commission won one important lawsuit in supreme court Friday, and dropped another of almost equal importance. The case was one from Dundy county, which involved the question of whether the assets of state bank in charge of the commission are immune from seizure on execution on judgments secured against the institution. The court, in an opinion by Judge Good, holds that when the bank taken over the titled to reasonable time in which to whether it may be its officers and operated going concern or shall be closed and its affairs wound up During that time the assets cannot be levied on by the judgment creditors of the bank. What constitutes reasonable time in which to make such determination is held to question of fact, not of law. and determined from the facts and conditions existing the particular case. Where creditor complains that the time is unreasonable the burden proof on him. The case came from Dundy county. where merchandise creditor sought to levy on the assets of the Citizens' bank of Benkleman within month after the commission took charge and was operating going concern. The creditors raised the constitutionality of the law in the appel-
