Thompson v. Park Sav. Bank

On Petition for Rehearing.

Three grounds are argued on the petition for rehearing. There is nothing in the first two grounds that is not discussed in the opinion.

The third ground is that the language of section 7069, Alabama Code of 1928, properly construed, shows that the expiration of the charter by limitation of itself does not work a forfeiture, but that there must be expiration accompanied by a dissolution proceeding. The language of the statute is: “Corporations whose charters expire by limitation and which are dissolved by forfeiture or by any other cause, except by judicial decree,”…