Des Moines Loan & Trust Co. v. Des Moines National Bank
Supreme Court of Iowa
Appeal from Polk District Court. — Hon. S. F. Balliet, Judge. Action in equity to determine the right of the parties to eighty shares of the preferred capital stock of the plaintifE corporation, evidenced by certificates Nos. 81, 32, 33, and 34, for twenty shares each, issued to L. W. Groode. The district court found for the defendant, and entered judgment dismissing plaintiff’s petition. Plaintiff appeals.
1Opinion of the Court
Given, ' J
1 I. Plaintiff claims a first lien upon the stock in dispute, as security for certain indebtedness of L. W. Goode, to it, by virtue of a provision in its by-laws, as follows: “No transfer of the stock, unless made upon the books of the company, shall be valid and binding upon the association, and no transfer of the stock shall be made, when the registered holder thereof is indebted to the company, until such indebtedness is fully paid.” Defendant claims a lien upon said shares of stock, by virtue of an assignment of said certificates to it, by L. W. Goode, as security for a loan of…
2Cases cited4 opinions
- Jennings v. Bank of CaliforniaCalifornia Supreme Court · 1889
- Farmers' & Traders' Bank v. HaneySupreme Court of Iowa · 1893
- Des Moines National Bank v. Warren County BankSupreme Court of Iowa · 1896
- Fort Madison Lumber Co. v. Batavian BankSupreme Court of Iowa · 1887
3Cited by7 opinions
- Midwest Management Corp. v. StephensSupreme Court of Iowa · 1980
- Ardmore State Bank v. MasonSupreme Court of Oklahoma · 1911
- Seaman v. Big Horn Canal Ass'nWyoming Supreme Court · 1923
- Just v. State Savings BankMichigan Supreme Court · 1903
- H. W. Wright Lumber Co. v. HixonWisconsin Supreme Court · 1899
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