Banking Commission v. Jordan

In deciding upon what course to take in meeting the assessment levied against his stock by the officers of the bank, respondent had a right to rely upon the statutes in force at the time. The question here to be decided is whether the stockholder’s individual liability ever accrued. It did not come into existence under sec. 221.42, Stats., unless the banking commission took possession as required by that statute. The court found that the commission advised and promoted an adjustment of the bank’s difficulties but that it did not take possession of the bank. To accomplish the stabilization a…