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YOUNG v. ROBERTS

No. 453.

112 S.E.2d 758 (1960)

252 N.C. 9

H. Fields YOUNG, Jr., Paris L. Yelton, Lamar L. Young and C. Franklin Harry, Jr. v. Benjamin R. ROBERTS, as Commissioner of Banks of the State of North Carolina; J. Clint Newton and Sam M. Schenck.

Supreme Court of North Carolina.

February 24, 1960.

Attorney(s) appearing for the Case

Poyner, Geraghty, Hartsfield & Townsend and Archibald E. Lynch, Jr., Raleigh, for plaintiffs, appellees.

Malcolm B. Seawell, Atty. Gen., and Harry W. McGalliard, Asst. Atty. Gen., for defendant, Commissioner of Banks, appellant.

BOBBITT, Justice.

While it appears plainly that plaintiffs and W. W. Jones, former Commissioner of Banks, contemplated that the proposed banking corporation would obtain insurance of its deposits with the Federal Deposit Insurance Corporation before it commenced business, nothing in Jones' report of June 4, 1955, or in the Commission's resolution of July 20, 1955, states that the approvals then given were otherwise...

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