Kennedy v. Denny, State Banking Com.

Opinion op the Court by

Judge Rees

Affirming.

The appellant, W. B. Kennedy, was the owner of five shares of stock of the Ohio Valley Bank & -Trust Company which was placed in the hands of the state banking commissioner for liquidation on November 3, 1923. On September 26, 1928, the McCracken circuit court adjudged it to be necessary for the payment of the corporate debts to severally assess the shareholders of the bank the par value of the stock owned by each, and directed the commissioner to make such assessment and collect same by demand or suit. Kennedy declined to pay the assessment, and the…