National Commercial Bank v. McDonnell
Supreme Court of Alabama
Appeals from the Chancery Court of Mobile. Pleard before the Hon. Tiros. W. Coleman. There are four appeals embraced in this one record — all involve similar questions, are included in one cause of action, and are decided by one decree of the chancellor. The bill was filed by the appellees, as creditors; and sought to subject the stockholders of the Ala.
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Appeals from the Chancery Court of Mobile. Pleard before the Hon. Tiros. W. Coleman. There are four appeals embraced in this one record — all involve similar questions, are included in one cause of action, and are decided by one decree of the chancellor. The bill was filed by the appellees, as creditors; and sought to subject the stockholders of the Ala. Gold Life Insurance-Company, an insolvent corporation that had made a general assignment, to a personal liability to the extent of the stock owned by them in said insolvent corporation. The answers,, contentions, and accompanying facts, as…
1Opinion of the CourtClopton, J.
Section 2 of Article XIII of the Constitution of 1868 enjoined: “Dues from corporations shall be secured by such individual liabilities of the corporators, or other means, as may be prescribed by law;” and section 3 declared : “Each stockholder in any corporation shall be' liable to the amount of stock held or owned by him.” The Alabama Gold Life Insurance Company was incorporated in October, 1868, under and by authority of an act amending section 1755 of the Ftevised Code, approved August 6, 1868. — Acts 1868, *390p. 16. By the amendatory act, life insurance companies incorporated thereunder…
2Cases cited14 opinions
- Casey v. GalliSupreme Court of the United States · 1877
- National Bank v. CaseSupreme Court of the United States · 1879
- Keyser v. HitzSupreme Court of the United States · 1890
- McDonnell v. Alabama Gold Life InsuranceSupreme Court of Alabama · 1888
- Burr v. . WilcoxNew York Court of Appeals · 1860
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3Cited by14 opinions
- Alabama Fidelity Mort. & Bond Co. v. DubberlySupreme Court of Alabama · 1916
- Zimmern v. Standard Motor Car Co.Supreme Court of Alabama · 1921
- Jones v. MooreSupreme Court of Alabama · 1927
- Teal v. Pleasant Grove Local Union No. 204, Etc.Supreme Court of Alabama · 1917
- Baer v. Alco Land and Timber Company, Inc.Supreme Court of Alabama · 1973
9 more not listed; retrieve them via the Exa API.