Bennett v. Schwarz

The superintendent of banks made an assessment under the State banking act of 1919, against the stockholders of the American Bank & Trust Company, of 100 per cent, of the face value of their stock. Notice was given, that, if this assessment was not paid -within thirty days, executions would be issued against the several stockholders for the amount of their respective assessments. ' The stockholders of the bank filed a petition to enjoin the superintendent of banks from issuing such executions, alleging that article 7 of section 20 of the act approved August 16, 1919, which purports to…