TRUSTS - POWER OF TRUSTEE TO INVEST BY SAVINGS DEPOSIT
Mehaffy, James W.
Abstract
The guardian of an incompetent veteran placed trust funds in his hands in the savings department of a trust company. The trust company was closed by order of the state bank commissioner on March 4, 1933, and failed to reopen. Held, the guardian is not chargeable with the loss, this being a proper investment of the funds. Hines v. Ayotte, (Me.
1937) 189 A. 835.