United States Supreme Court Cases & Opinions

U.S. Supreme Court

Miller v. King, 223 U.S. 505 (1912)

Miller v. King

No. 153

Argued January 22, 23, 1912

Decided February 19, 1912

223 U.S. 505

Syllabus

While a national bank cannot act as trustee and hold land for third persons, under 5136, Rev.Stat., it may do those acts that are usual and necessary in making collections of commercial paper and evidence of debt.

A national bank, under 5136, Rev.Stat., may be assignee of a judgment to collect and distribute the amount thereof where the assignment is not made merely to enable it to sue in its own name.

Under the law of Oregon, a national bank holding a chose in action as trustee to collect and distribute may use in it own name.

Quaere whether any but the government can raise the question that a national bank, in acting as trustee, violates § 5136, Rev.Stat. Kerfoot v. Bank, 218 U. S. 281.

53 Ore. 53 affirmed.

The facts, which involve the construction of § 5136, Rev.Stat., in regard to the extent of power of a national bank to act as trustee, are stated in the opinion.

Page 223 U. S. 509