Reliance Building & Loan Ass'n Case

Opinion by

Hirt, J.,

Reliance Building and Loan Association borrowed $17,600 on its note from appellee bank. This note was unpaid on December 10, 1937 when the Secretary of Banking took possession of the association for the purpose of liquidation. Admittedly the assets of the building and loan association in liquidation are more than sufficient to satisfy outside creditors in full but insufficient in addition, to return to shareholders the full value of their shares. In the distribution account of the receiver interest was allowed only to the date the receiver took possession of the insolvent…