Smith v. Fischer

This action is brought by the superintendent of banks on behalf of the Cottonwood State Bank, which is in the hands of the superintendent of banks for liquidation. The action is based on the provisions of sections 8980 and 8990 of the Revised Code of 1919. Section 8980 reads as follows: “No individual, firm or corporation ‘transacting a banking business in this state shall loan to any corporation, partnership or individual, including all loans made to the several members of such corporation or partnership, more than twenty per cent of the paid up capital and surplus of such bank. And in no…