Schenebeck v. McCrary - 298 U.S. 36 (1936)

U.S. Supreme Court

Schenebeck v. McCrary, 298 U.S. 36 (1936)

Schenebeck v. McCrary

No. 810

Jurisdictional statement distributed March 28, 1936

Decided April 13, 1936

298 U.S. 36

Syllabus

A taxpayer in Arkansas has no vested interest in public funds deposited by a county treasurer in a designated depositary; consequently, state legislation releasing the treasurer and his bondsmen and the bondsmen of the depositary from liability for deposits lost through the insolvency of the depositary was not in this case an impairment of the obligation of contracts.

191 Ark. 698; 87 S.W.2d 572, affirmed.

Appeal from a judgment affirming in part and in part reversing a judgment of the trial court in an action to recover county funds.