Follett v. Clark

This is an action on a promissory note executed by the deceased to the Citizen’s State Bank of Tekoa as payee. From judgment for plaintiff, defendant appeals.

In 1931, the Citizen’s bank merged with another bank. It thereafter ceased to perform the ordinary functions of banking. It retained certain assets, however, among which was a note executed by deceased sometime prior to the merger. It continued to pay its annual license fees until 1936. Although it failed to pay license fees for 1936 and subsequent years, the secretary of state did not enter a notation of its dissolution upon the records…