Union National Bank v. McBoyle, 243 U.S. 26 (1917)

Union National Bank v. McBoyle

No. 164

Argued January 24, 25, 1917
Decided March 6, 1917
243 U.S. 26

ERROR TO THE SUPREME COURT

OF THE STATE OF CALIFORNIA

Syllabus

The board of directors of a national bank have power under the National Bank Act to clothe the cashier with authority to sell corporate shares which have been acquired by the bank as the result of a loan made upon the shares as security.

Whether the rules adopted by the board of directors of a national bank to govern its business do or do not empower the cashier to sell corporate shares which the bank has acquired as the result of loans upon them as collateral is a question involving the interpretation of the rules as applied to the circumstances of the transaction, and not a question concerning the meaning of the National Bank Act upon which this Court may assume jurisdiction to review a state court’s judgment.

Writ of error to review 168 Cal. 263 dismissed.

The case is stated in the opinion.