Williams v. Meloy
Wisconsin Supreme Court
Appeal from an order of the circuit court for La Eayette-county: Geo. CleheNtsoN, Circuit Judge. This is an action to enforce the statutory liability of stockholders in an insolvent bank, under sec. 47, ch. 479, Laws of' 1852. The action is brought by the plaintiff as a creditor, and as the assignee under a voluntary assignment, of the-Shullsburg Bank.
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Appeal from an order of the circuit court for La Eayette-county: Geo. CleheNtsoN, Circuit Judge. This is an action to enforce the statutory liability of stockholders in an insolvent bank, under sec. 47, ch. 479, Laws of' 1852. The action is brought by the plaintiff as a creditor, and as the assignee under a voluntary assignment, of the-Shullsburg Bank. The complaint alleges that the bank is a-state banking corporation, duly organized, with a capital stock of $50,000, and that it commenced business in September, 1886, and continued doing a general banking business-until September 15, 1896;…
1Opinion of the CourtWiNslow, J.
Since the decisions of this court in the recent cases of Gianella, v. Bigelow, 96 Wis. 185, and Booth v. Dear, 96 Wis. 516, it cannot be doubted that the plaintiff, as a creditor of the bank, states a good cause of action, under secs. 3223 and 3224, R. S., to charge the defendants, as stockholders of the bank, on account of their additional personal liability to the amount of their respective shares of stock, created by sec. 47, ch. 479, Laws of 1852. It is settled that this liability is an original, primary liability of the stockholders to the creditors, but to be enforced by an action in…
2Cases cited3 opinions
- Gianella v. BigelowWisconsin Supreme Court · 1897
- Booth v. DearWisconsin Supreme Court · 1897
- Geilfuss v. GatesWisconsin Supreme Court · 1894
3Cited by2 opinions
- Gager v. MarsdenWisconsin Supreme Court · 1899
- Marshall-Wells Hardware Co. v. New Era Coal Co.North Dakota Supreme Court · 1904