167 Ga. 802 | Ga. | 1929
(After stating the foregoing facts.) It appears from the petition that on September 3, 1924, the Chattahoochee Fertilizer Company had a debt against E. D. Smith, and that in order to secure the collection of the claim the Fertilizer Company accepted from Smith a sale and transfer of 23 shares of stock of the par value of $100 each in the Bank of Ty Ty, and that the transfer of the stock was duly entered on the books of the bank. The bank closed its doors, on what date the petition does not allege; but it does allege that the bank was insolvent on April 24, 1926, and was taken over by the superintendent of banks. It is also alleged that on May 14, 1926, the superintendent of banks legally assessed
In Commercial Bank v. Blassingame, 147 Ga. 636 (2) (95 S. E. 222), this court held: “The ground of the demurrer raising the point in regard to the notice sent out to stockholders for a meeting to be held, that an assessment could only be levied where the notice is sent out by the State bank examiner, and that notice sent out by an assistant bank examiner would not be in compliance with the law and would be ineffective as legal notice under the statute, was without merit. See Civil Code, §§ 2282, 2283, relating to the appointment, powers, and duties of the assistant bank examiner.” In Simmons v. Freeman, 146 Ga. 118 (3, 4) (90 S. E. 965), after quoting from the U. S. Rev. Stat. § 327 (Eed. Stat. Ann. 192), this court held: “The deputy comptroller of the currency being authorized by law to act for the comptroller in certain contingencies, the courts will presume, in the absence of any showing to the contrary, that the deputy, in acting for the comptroller in any particular instance, has acted lawfully. Young v. Wempe, 46 Fed. 354; Bolles’ Nat. Bank Act Ann. 333; Cadle v. Baker, 20 Wall. 650 (22 L. ed. 448). A certificate signed by the deputy comptroller of the currency, as f acting comptroller of the currency,’ is a sufficient certificate by the comptroller of the currency within the requirements of the statute just cited. Keyser v. Hitz, 133 U. S. 138 (10 Sup. Ct. 290, 33 L. ed. 531).” Under the old law the liquidation of banks was through receivers appointed by the superior courts. But under the act of 1919, as amended by the act of 1925, the State superintendent of banks is a statutory receiver, and the liquidation of banks is entirely in his hands. It would be physically impossible for the superintendent of banks to discharge personally the duties required of him by personally looking after all the details incident to the liquidation of insolvent banks. The
It therefore seems clear that the legislature, in passing the act of 1919, recognized the necessity of conferring on the superintendent of banks authority to appoint such assistants and help as might be necessary in the liquidation of insolvent banks, and it evidently recognized the fact that the superintendent of banks could not personally perform all the duties required under the act for the liquidation of banks, and hence conferred the authority on the superintendent to employ such assistants as might be necessary. Un
It follows from all that has been said that the execution involved in this case, signed, “T. E. Bennett, Superintendent of Banks, by J. E. Cagle, Assistant Superintendent of Banks. Superintendent of Banks of the State of Georgia,” is not illegal and void as contended. Carmichael v. National Park Bank, 28 Fed. (2d) 691 (C. C. A.); Mobley v. Goodwyn, 39 Ga. App. (146 S. E. 28); and see Deariso v. Mobley, 38 Ga. App. 313 (143 S. E. 915). The case of Mobley v. Marlin, 166 Ga. 820 (144 S. E. 747), did not involve the question now under consideration, of the authority of the superintendent of banks to delegate his authority to issue executions. That case involved the question of the validity of a sale of the assets of a bank. And see 31 Cyc. § 1428(c).
After alleging the facts set out in the foregoing statement, the plaintiff prayed that the Chattahoochee Fertilizer Company, the International Agricultural Corporation, and their officers and agents be enjoined from transferring or otherwise changing the status of any of the assets, including choses in action, which are
Judgment reversed.