First National Bank of Elizabethtown v. Commonwealth

Opinion op the Cotjet by

Judge Cabeoll

Affirming.

This action was brought in 1908 by the Commonwealth for the use of the. Louisville School Board to es-cheat certain lots of land in the city of Louisville owned by the appellant bank and worth some $2,000. The lower court granted the relief sought, and the bank appeals.

Authority to maintain an action like this is found in •section 192 of the Constitution, reading:

“No corporation shall engage in business other than that expressly authorized by its charter, or the law under which it may have been or hereafter may be organized, nor shall it hold any…