Chapman v. Beeman

HODGES, J

This is a suit by the commissioner of banking to enforce the statutory liability of a stockholder for the debts of an insolvent state bank. On November 4, 1921, the Texas Bank & Trust Company of Ranger became insolvent and was taken over by the commissioner of insurance and banking. In winding up the affairs of the bank, that officer assessed the stockholders 100 per cent, of the par value of their stock: Among those whose names appeared on the books of the bank as a stockholder was that of Beeman, the appellee. He received a notice ■of the assessment, but refused payment upon the…