Federal Deposit Insurance Corp. of Washington v. Ensteness

The Federal Deposit Insurance Corporation of Washington, D. C., receiver of the Farmers and Merchants Bank of Revillo, South Dakota, brought action in December, 1939, against the defendant, L. E. Ensténess, on his refusal and failure to pay the assessment levied on five shares of the capital stock in said bank. The bank had qualified and become a member of the Federal Deposit Insurance Corporation prior to July 1, 1933, and continued to be such member up to the.time that it became of unsound financial condition, April 21, 1936, at which date it suspended business and its assets were taken…