United States Supreme Court Cases & Opinions

U.S. Supreme Court

Colorado Nat'l Bank of Denver v. Bedford, 310 U.S. 41 (1940)

Colorado National Bank of Denver v. Bedford

No. 719

Argued April 2, 3, 1940

Decided April 22, 1940

310 U.S. 41

Syllabus

1. This case is appealable under Jud.Code § 237(a), because a state statute affecting national banks was upheld by a state court over the objection of conflict with the federal law and Constitution. P. 310 U. S. 47.

2. National banks are authorized to conduct a safe deposit business. Pp. 310 U. S. 49-50.

3. In the absence of contrary legislation by Congress, a state law laying a percentage tax on the users of the safety deposit

Page 310 U. S. 42

service of banks measured by the banks' charges for the services, and requiring the banks to collect the taxes, account for them to the State and include them in their bills for the services, but allowing them credit on future taxes for taxes paid on accounts eventually found worthless held valid as applied to a national bank. P. 310 U. S. 52.

4. Requiring a national bank to collect and remit the tax does not impose an unconstitutional burden on a federal instrumentality. P. 310 U. S. 53.

105 Colo. 373, 98 P.2d 1120, affirmed.

Appeal from the affirmance of a declaratory judgment entered in a suit by Bedford, Treasurer, against the Bank.

Page 310 U. S. 43