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Michals v. Federal Savings and Loan Insurance Corp.

July 10, 1969

MARIE M. MICHALS, ALSO KNOWN AS MARY K. MICHALS, INDIVIDUALLY, AND AS ADMINISTRATOR OF THE ESTATE OF EDWARD H. MICHALS, DECEASED, PLAINTIFF-APPELLANT,
v.
FEDERAL SAVINGS AND LOAN INSURANCE CORPORATION, A BODY CORPORATE AND AN INSTRUMENT OF THE UNITED STATES OF AMERICA, DEFENDANT-APPELLEE



Castle, Chief Judge, Fairchild, Circuit Judge, and Eschbach, District Judge.

Author: Castle

CASTLE, Chief Judge:

Plaintiff, on behalf of herself and as administrator of her late husband's estate, brought this action in the district court to recover $38,466.45, plus interest and costs, allegedly owed her by defendant agency (FSLIC) as insurance on various savings accounts which she and her husband held in Marshall Savings and Loan Association of Riverside, Illinois, which was an "insured" institution under 12 U.S.C. ยง 1724. The six accounts so held were as follows:

Title of Account Amount

Edward Michals or Mary K.

Michals as joint tenants. $8,466.45

Marie M. Michals or Edward H.

Michals as joint tenants 10,000.00

Edward Michals as trustee

for Mary K. Michals 10,000.00

Edward H. Michals as trustee

for Marie M. Michals 5,000.00

Mary K. Michals as trustee

for Edward Michals ...


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