{
  "id": 2221433,
  "name": "GURNEY P. HOOD, Commissioner of Banks of the State of North Carolina, ex rel. THE UNITED BANK AND TRUST COMPANY; A. G. SMALL, Liquidating Agent of THE UNITED BANK AND TRUST COMPANY (W. P. DYER, JR., Substituted for A. G. SMALL), and RECONSTRUCTION FINANCE CORPORATION, v. PROGRESSIVE STORES, INC., R. E. BOBBITT, R. T. HOWARD, and DEWEY H. COOPER",
  "name_abbreviation": "Hood ex rel. United Bank & Trust Co. v. Progressive Stores, Inc.",
  "decision_date": "1935-12-11",
  "docket_number": "",
  "first_page": "36",
  "last_page": "38",
  "citations": [
    {
      "type": "official",
      "cite": "209 N.C. 36"
    }
  ],
  "court": {
    "name_abbreviation": "N.C.",
    "id": 9292,
    "name": "Supreme Court of North Carolina"
  },
  "jurisdiction": {
    "id": 5,
    "name_long": "North Carolina",
    "name": "N.C."
  },
  "cites_to": [],
  "analysis": {
    "cardinality": 298,
    "char_count": 5807,
    "ocr_confidence": 0.446,
    "sha256": "55a6a66fff2481cb0354d23e267b4f8d6a3f5da2583e2e52422d0fd733221989",
    "simhash": "1:0fd4ca5ae8253dfe",
    "word_count": 989
  },
  "last_updated": "2023-07-14T22:34:31.527681+00:00",
  "provenance": {
    "date_added": "2019-08-29",
    "source": "Harvard",
    "batch": "2018"
  },
  "casebody": {
    "judges": [],
    "parties": [
      "GURNEY P. HOOD, Commissioner of Banks of the State of North Carolina, ex rel. THE UNITED BANK AND TRUST COMPANY; A. G. SMALL, Liquidating Agent of THE UNITED BANK AND TRUST COMPANY (W. P. DYER, JR., Substituted for A. G. SMALL), and RECONSTRUCTION FINANCE CORPORATION, v. PROGRESSIVE STORES, INC., R. E. BOBBITT, R. T. HOWARD, and DEWEY H. COOPER."
    ],
    "opinions": [
      {
        "text": "Per Curiam.\nN. O. Code, 1935 (Micbie), section 446, in part, is as follows: \u201cEvery action must be prosecuted in tbe name of tbe real party in interest,\u201d etc.\nSection 469 : \u201cIn all other cases tbe action must be tried in tbe county in which tbe plaintiffs or tbe defendants, or any of them, reside at its commencement; or if none of tbe defendants reside in tbe State, then in tbe county in which tbe plaintiffs, or any of them, reside; and if none of tbe parties reside in tbe State, then tbe action may be tried in any county which tbe plaintiff designates in bis summons and complaint, subject to tbe power of tbe court to change tbe place of trial, in tbe cases provided by statute.\u201d\nSection 218 (c) (7) is, in part: \u201cUpon taking possession of tbe assets and business of any bank by tbe commissioner of banks, tbe commissioner of banks, or tbe duly appointed agent, is authorized to collect all moneys due such bank, and to do such other acts as are necessary to conserve its assets and property, and shall proceed to liquidate tbe affairs thereof, as hereinafter provided. Tbe commissioner of banks, or the duly appointed agent, shall collect all debts due and claims belonging to such bcmh, by suit, if necessaryetc. (Italics ours.)\nTbe liquidating agent was a resident of Guilford County, N. 0., and tbe statute, supra, gave him tbe right to institute tbe suit. Tbe United Bank and Trust Company, when it closed its doors, was doing a banking business in Guilford County, and tbe liquidating agent ex necessitate was there to close up the affairs of the insolvent bank. The pledge of defendants\u2019 note by United Bank and Trust Company as collateral to the Reconstruction Finance Corporation does not militate against the liquidating agent being a party plaintiff. We think, under the facts and circumstances of this case, the pledgor and pledgee are both interested in the action and necessary parties to it. The note in controversy was assigned as collateral to the Reconstruction Finance Corporation.\nFor the reasons given, the judgment of the court below is\nAffirmed.",
        "type": "majority",
        "author": "Per Curiam."
      }
    ],
    "attorneys": [
      "Smith, Wharton \u25a0& Hudgins for plaintiffs.",
      "Gavin & Jaclcson for defendants."
    ],
    "corrections": "",
    "head_matter": "GURNEY P. HOOD, Commissioner of Banks of the State of North Carolina, ex rel. THE UNITED BANK AND TRUST COMPANY; A. G. SMALL, Liquidating Agent of THE UNITED BANK AND TRUST COMPANY (W. P. DYER, JR., Substituted for A. G. SMALL), and RECONSTRUCTION FINANCE CORPORATION, v. PROGRESSIVE STORES, INC., R. E. BOBBITT, R. T. HOWARD, and DEWEY H. COOPER.\n(Filed 11 December, 1935.)\n1. Venue A d \u2014 Action on note held, properly instituted in county of residence of liquidating agent of insolvent payee hank.\nAn action on a note by tbe Commissioner of Banks and tbe liquidating agent of an insolvent bank, the payee of the note, and the Reconstruction Finance Corporation, the pledgee of the note, is properly brought in the county in which the insolvent bank is situate and of which the liquidating agent is a resident, and defendants\u2019 motion for change of venue to the county of their residence is properly refused. N. C. Code, 446, 469, 218 (c) (7).\n2. Bills and Notes H a \u2014 Under facts of this case, pledgor and pledgee of note held entitled to maintain joint suit against makers.\nIn an action on a note executed to a bank, the liquidating agent of the payee bank and the Reconstruction Finance Corporation, to which the note had been pledged as collateral security, may jointly sue the makers of the note.\nAppeal by defendants from McElroy, J., at April Term, 1935, of Guileord.\nAffirmed.\nTbis was a civil action, beard before bis Honor, P. A. McElroy, judge, at tbe April Civil Term of Guilford Superior Court, 1935, upon a motion of tbe defendants for a change of venue.\nIn February, 1933, tbe United Bank and Trust Company, a North Carolina banking corporation, with its principal place of business in tbe city of Greensboro, Guilford County, North Carolina, closed its doors, and the management of tbe assets and affairs of the said bank was assumed, for tbe purpose of liquidation pursuant to tbe North Carolina banking laws, by Gurney P. Hood, Commissioner of Banks. At tbe time of tbe institution of tbis action, A. G. Small was tbe duly appointed, qualified, and acting liquidating agent of tbe said bank, and was a resident of Guilford County, North Carolina.\nTbis suit was instituted upon a note executed by tbe defendants unto tbe United Bank and Trust Company in November, 1932, and by tbe said bank pledged to coplaintiff Reconstruction Finance Corporation as security for an indebtedness of tbe United Bank and Trust Company unto tbe said corporation, which said indebtedness at tbe time of tbe institution of tbis action exceeded tbe amount of tbe note involved in tbis suit.\nSubsequent to tbe commencement of this action, W. P. Dyer, Jr., was duly substituted as party plaintiff in behalf of A. G. Small, tbe said Dyer having been duly appointed and having qualified as successor liquidating agent to tbe said Small. W. P. Dyer, Jr., was at tbe time of tbe substitution as party plaintiff, and is at tbe present time, a resident of Guilford County, North Carolina. Eeconstruction Finance Corporation is a corporation created by tbe Congress of tbe United States, with its principal office in tbe city of Washington, D. 0., and with its principal North Carolina office in tbe city of Charlotte, Mecklenburg County.\nUnder tbe facts as stated above, both tbe clerk of tbe Superior Court of Guilford County and subsequently tbe presiding judge were of tbe opinion that Guilford County was a proper venue for the trial of tbis cause, and, therefore, declined to grant tbe defendants\u2019 motion for change of venue to Lee County, North Carolina, where tbe defendants reside.\nTbe defendants excepted and assigned error and appealed to tbe Supreme Court.\nSmith, Wharton \u25a0& Hudgins for plaintiffs.\nGavin & Jaclcson for defendants."
  },
  "file_name": "0036-01",
  "first_page_order": 98,
  "last_page_order": 100
}