176 Ga. 210 | Ga. | 1933
(After stating the foregoing facts.) Counsel for plaintiff in error says: “There are but two issues in this case: First, can property in possession of the liquidating agent of a bank be levied upon? Second, which is the superior lien against the assets of the bank, the tax executions or the claims of the depositors ?” The first question must be answered in the negative. This court held, in Felton v. McArthur, 173 Ga. 465 (4) (160 S. E. 419) : “Equity will enjoin the tax-collector and sheriff from trying to enforce by levy and sale the collection of tax fi. fas. against an insolvent bank when so taken over by the superintendent of banks for liquidation.” To the second question it must be replied that under the provisions of the act of 1927 (Ga. L. 1927, p. 199), amending the banking act, the claims of depositors are superior to tax executions. By this amending act “the depositors in such banks are entitled to payment out of the assets of insolvent banks in preference to the claims of the State for taxes due by such banks to it.” Felton v. McArthur, supra. If, in the administration of the assets of an insolvent bank, the superintendent of banks comes into the possession of deeds given to the bank, which convey the title to land therein described to the bank (leaving the debtor to
Judgment reversed.