Zachery v. . Hood, Comr. of Banks

170 S.E. 641, 205 N.C. 194, 1933 N.C. LEXIS 499

• Court: Supreme Court of North Carolina
• Decided: September 20, 1933
• Status: Published

Opinion

Pee OueiaM.

On 19 November, 1930, when the Central Bank and Trust Company closed its doors and ceased to do business, because of its insolvency, the sum of $1,992.12, then on deposit with the said Bank and Trust Company, pursuant to the judgment of the Superior Court of Buncombe County, in the action entitled, “Frances H. Zachery v. Robert Y. Zachery, Jr., and others,” was a special deposit, or a deposit for a specific purpose. Parker v. Trust Co., 202 N. C., 230, 162 S. E., 564; Corp. Com. v. Trust Co., 193 N. C., 696, 138 S. E., 22. The fact that prior to the attachment and the judgment in said action, the deposit then in said Bank and Trust Company, in the name of Ethel Lee Murray, executrix, was a general deposit, subject to her check, does not determine the character of said deposit, after the rendition of the judgment, for thereafter the deposit was not subject to the check of Ethel Lee Murray, executrix, but was held by the said Bank and Trust Company subject to the orders of the court, for a specific purpose. At tbe date of tbe insolvency of tbe Central Bank and Trust Company, tbe said deposit, tben amounting to $1,992.12, was impressed with a trust which entitles tbe plaintiff, tbe cestui que trust, to a preference over tbe general creditors of said Bank and Trust Company. Flack v. Hood, Comr., 204 N. C., 331, 168 S. E., 520. There is no error in tbe judgment.

Affirmed.