Court Opinion

ID: 9834619
Source: CourtListenerOpinion
Date Created: 2023-09-02 01:20:05.269928+00
Date Added: 2024-06-11T07:44:37.673333
License: Public Domain

On Petition for Rehearing:
In support of petition for rehearing, it is urged that the decision ignores the statutory provision that! “No banking institution shall pledge, hypothecate or deliver any of its assets of any description whatsoever1 to any person to indemnify him as surety for such banking institution, or as surety for any other person.” Code, 31-4-9. This provision came into the statute in 1929. Acts 1929, Chapter 23, Section 5. Inasmuch as the liabilities on both the bond and the note, mentioned in the opinion, *294arose prior to the enactment of the stated statutory provision, it seems unnecessary in this case to enter upon discussion of the proper interpretation of the statute.