Wood v. Hamaguchi

This is an appeal from a judgment in favor of defendants in an action brought by appellant as Superintendent of Banks of the State of California to recover the amount of an assessment levied upon the stockholders of the First Bank of Livingston, a banking corporation in liquidation. The assessment was levied and the action thereon was brought under and by virtue of chapter 496 of the Statutes of 1917, page 581, as amended by chapter 420 of the Statutes of 1925, page 905, the material portions of which read as follows:

“Section 1. Whenever the superintendent of banks shall hereafter take…