Arbo v. State Bank of Elberta

FOSTER, X

The question in this case is whether the failure to comply with the statute of non-claim (section 5815, Code) prevents the enforcement of the lien provided for in section 7000, in favor of a corporation against its stockholders on their shares of stock to collect a debt for borrowed money. The suit is in equity, and the claim was not filed or presented so as to comply with section 5815, Code. The chancery court held that the lien is enforceable on the stock.

Appellant seeks to apply a distinction drawn in some of the cases between a lien created by law and one created by contract, in…