of summons upon all
known claimants and constructive notice by publication to all claimants
who are unknown.[732] Whether a proceeding by the State to compel a bank
to turn over to it unclaimed deposits in _quasi in rem_ or strictly _in
rem_, the essentials of jurisdiction over the deposit are that there be
a seizure of the _res_ at the commencement of the suit and reasonable
notice and opportunity to be heard. These requirements are met by
personal service on the bank and publication of summons to depositors
and of notice to all other claimants. The fact that no affidavit of
impracticability of personal service on claimants is required before
publication of such notices does not render the latter unreasonable
inasmuch as they are used only in cases where the depositor is not known
to the bank officers to be alive.[733] Similarly, a Kentucky statute
requiring banks to turn over to the State deposits long inactive is not
violative of due process where, although the deposits are taken over
upon published notice only, without any judicial decree of actual
abandonment, they are to be held by the State for the depositor until
such determination and for five years thereafter.[734] However, a
procedure is at least partly defective whereby a bank managing a common
trust fund in favor of nonresident as well as resident beneficiaries
may, by a petition, the only notice of which is by publication in a
local paper, obtain a judicial settlement of accounts which is
conclusive on all having an interest in the common fund or in any
participating trust. Such notice by publication is sufficient as to
beneficiaries whose interests or addresses are unknown to the bank,
since there are no other more practicable means of giving them notice;
but is inadequate as a basis for adjudication depriving of substantial
rights persons whose whereabouts are known, inasmuch as it is feasible
to make serious efforts to notify them at least by mail to their
addresses on record with said bank.[735] On the other hand, failure to
make any provision for notice to majority stockholders of a suit by
dissenting shareholders, under a statute which provided that, on a sale
or other disposition of all or substantially all of corporate assets, a
dissenting shareholder shall have the right, after six months, to be
paid the amount demanded, if the corporation makes no counter offer or
does not abandon the sale, does not deny due process; for the majority
stockholders