Farmers' & Merchants' Bank v. Tomlinson

On November 6, 1925, plaintiff bank suspended, and was taken over by the superintendent of banks for the purpose of liquidation. On February 5, 1926, the superintendent of banks, on a petition showing- that deposit creditors of the bank, representing- more than 80 per cent of the amiount of -deposits at the date of suspension, had joined in executing- an agreement in writing- for a reorganization plan, procured from tlie circuit court of Beadle county an order to show cause on February 15, 1926, why the bank should not be reinstated as a solvent corporation un-der the reorganization plan, and…