E.F. HOUGHTON & CO. v. DOE


427 Pa.Super. 303 (1993)

628 A.2d 1172

E.F. HOUGHTON & CO. and Efhco, Inc., Appellants, v. Jane DOE and Timothy Burno. E.F. HOUGHTON & CO. and EFHCO, Inc., Appellants, v. MELLON BANK (EAST), N.A., Successor to Girard Bank. E.F. HOUGHTON & CO. and Efhco, Inc., Appellants, v. DELAWARE MANAGEMENT CO., INC. Delaware Cash Reserve, Inc. and Delaware Cash Reserve.

Superior Court of Pennsylvania.

Filed July 27, 1993.


Attorney(s) appearing for the Case

Annetta F. Givhan, Philadelphia, for appellants.

Fred T. Magaziner, Philadelphia, for Mellon Bank, appellee.

Before CAVANAUGH, BECK and HUDOCK, JJ.


BECK, Judge:

In this appeal we decide the nature of the notice that must be given to a bank by a third party under Section 606 of the Banking Code in order for the third party to assert successfully a claim to funds in a depositor's account superior to that of the depositor or the bank itself.

The relevant facts in this case are undisputed. In February 1982, Timothy Burno, an investment clerk employed...

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