Gormley v. Searcy

Hutcheson, Justice.

The Court of Appeals certified to this court the following questions: “Where the special legislative charter of a bank, which was granted on October 26, 1870, for a period of 30 years, and provided that the ‘individual property of the stockholder, at the time of suit, shall be' liable for the ultimate payment of the debts of the company in proportion to the amount of stock owned by each stockholder’ (Acts 1870, pp. 114, 115), was renewed by the secretary of State on October 24, 1900, in accordance with the law of force at 'that time providing for the renewal of special…