Chapman v. Sparks

The State Bank of Rockport Aransas county, being insolvent, ceased to do business on March 27, 1922, when the state banking commissioner took charge of the institution for the purpose of winding up its affairs under the provisions of title 14, R.S. 1911, as amended by later acts. The regularity of the acts of the commissioner in closing and taking possession of the bank is not in question here.

In January, 1921, Miss Jewel Sparks became the owner of ten shares of the capital stock of the bank, of the par value of $100 per share, and the transfer of the stock to her was duly made on the books…