152 Misc. 424 | N.Y. Sur. Ct. | 1934
1. I hold that the legacy of the Bank of America National Association, Trust Department, is valid. The powers of national banks, conferred by the Congress of the United States, are contained in U. S. Code, title 12, section 24, as amended by chapter 191, section 2, of the Laws of 1927 (44 U. S. Stat. at Large,
The right to acquire personal property by bequest under the State law does not appear to conflict with the powers of national banks expressly authorized under the Federal statutes. The efficiency of national banks as Federal agencies is in no wise impaired or destroyed thereby, nor the regulatory powers prescribed for national banks affected by the State laws.
For the foregoing reasons the gift to the Bank of America National Association, now merged with its successor, City Bank Farmers Trust Company, must be given effect.
3. The personal claim of the coexecutor, Benjamin V. Avery, is allowed in the sum of $3,125.
4. The remaining objections to the account are disposed of in accordance with the rulings of the surrogate made upon the trial.
Proceed accordingly.