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McNAIR v. KNOTT

No. 32.

302 U.S. 369 (1937)

58 S.Ct. 245

82 L.Ed. 307

McNAIR, RECEIVER, v. KNOTT, TREASURER OF FLORIDA, ET AL.

Supreme Court of United States.

Decided December 13, 1937.

Attorney(s) appearing for the Case

Messrs. J. Turner Butler and George P. Barse for petitioner.

Mr. J. Compton French, Assistant Attorney General of Florida, with whom Messrs. Cary D. Landis, Attorney General, and H.E. Carter, Assistant Attorney General, were on the brief, for respondents.

MR. JUSTICE BLACK delivered the opinion of the Court.

The question presented is whether the National Bank Enabling Amendment of June 25, 1930, which granted power to National Banks to secure deposits of public funds, validates or makes enforceable previous pledge agreements made to protect such funds deposited before the Enabling Amendment became effective.

That Enabling Act1 provides...

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