136 Iowa 694 | Iowa | 1907
Prom the allegations of the petition of intervener, and the answer and counterclaim thereto, which
Sec. 1884. No bank, banking bouse, exchange broker, deposit office, firm, company, corporation, or person engaged in tbe banking, brokerage, exchange or deposit business, shall, when insolvent, accept or receive on deposit with or without interest, any money, bank bills or notes, United States treasury notes or currency, or other notes, bills, checks or drafts, or renew any certificate of deposit.
Sec. 1885. If any such bank, banking bouse, exchange broker, deposit office, firm, company, corporation or person shall receive or accept on deposit any such deposits, as aforesaid, when insolvent, any owner, officer, director, cashier, manager, member or person knowing of such insolvency, who shall knowingly receive or accept, be accessory, or permit, or connive at receiving or accepting on deposit therein, or thereby, any such deposits, or renew any certificate of deposit, as aforesaid, shall be guilty of a felony, and, upon conviction, shall be punished by fine not exceeding ten thousand dollars, or by imprisonment in the penitentiary for a term of not more than ten years, or by imprisonment in the county jail not more than one year, or by both fine and imprisonment.
If the statute imposed a penalty on the person who makes a deposit in an insolvent bank, then, no doubt, his act would be unlawful in such sense that he could not recover the deposit. But an examination of the statutory provisions leads irresistibly to the conclusion that no penalty is declared as against the depositor, and that there was no intention on the part of the Legislature to make such an act unlawful as to him. The statute prohibits an acceptance of deposits and the renewal of certificates by any corpora
The judgment is affirmed.