Fors v. Thoman

Nelson Sharpe, C.

J. The plaintiff was appointed receiver of the American State Savings Bank by the circuit court for the county of Ingham, in chancery, on February 6, 1932, on petition of the State banking commissioner. On October 7, 1932, the court, on petition of the commissioner, — “and being of the opinion that it is necessary in order to pay the liabilities of said bank that the statutory liability of the stockholders of said bank should be enforced,”— entered an order assessing the stockholders the amount of their stock at the par value thereof, payable 30 days thereafter, and directed…