Educational Soc. of Yozgad, Inc. v. W. D. Gordon

Opinion by

Mr. Justice Kephart,

On July 30,. 1930, the Southern Co-operative Building & Loan Association merged with the Max Krakovitz Building & Loan Association, the new corporation being called Southern Co-operative Building & Loan Association. Appellee was a shareholder in the constituent corporation, the Southern Co-operative Building & Loan Association. It gave notice of withdrawal on July 1, 1930. On October 3d appellee brought suit for the amount paid in on its shares, naming the constituent corporation as defendant. The defense of insolvency was set up. The case proceeded to judgment…