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SIMPSON v. MONETTE STATE BANK

No. 5-3261.

381 S.W.2d 443 (1964)

Dick SIMPSON, Bank Commissioner for the State of Arkansas, et al., Appellants, v. MONETTE STATE BANK, a Corporation, Appellee.

Supreme Court of Arkansas.

Rehearing Denied September 14, 1964.

Attorney(s) appearing for the Case

Bruce Bennett, Atty. Gen., by Jack L. Lessenberry, Chief Asst. Atty. Gen., Little Rock, for appellant.

Leon B. Catlett, Little Rock, E. J. Ball, Fayetteville, for appellee.

Smith, Sanderson, Stroud & McClerkin, Texarkana, W. S. Mitchell, Harry E. Meek, John T. Williams, Little Rock, Louis Ramsay, Jr., Pine Bluff, Fred M. Pickens, Jr., Newport, Boyce & Bowie, Newport, Doug Bradley, Jonesboro, amicus curiae.

ARTHUR G. FRANKEL, Special Justice.

The appellee, Monette State Bank, a domestic banking corporation, instituted suit for declaratory judgment to interpret Acts 190 of 1961 and 544 of 1963. The appellants are the State Bank Commissioner and the State Banking Board. Briefs were filed by the parties and amicus curiae and the case heard orally.

The facts are clear and undisputed. During 1937, appellee was granted a domestic banking charter and commenced business...

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