Attorney-General v. President, Directors & Co. of the Bank of Columbia
New York Court of Chancery
In this case the court on a previous day had granted an injunction against the Bank of Columbia, upon the application of the attorney-general, and had made an order for the appointment of a receiver to tajee charge of its property and effects, and had referred it to a master to receive nominations of suitable persons as receiver, and to report as to the competency of the persons named and the sufficiency of the sureties offered by them respectively.
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In this case the court on a previous day had granted an injunction against the Bank of Columbia, upon the application of the attorney-general, and had made an order for the appointment of a receiver to tajee charge of its property and effects, and had referred it to a master to receive nominations of suitable persons as receiver, and to report as to the competency of the persons named and the sufficiency of the sureties offered by them respectively. And now, on behalf of the attorney-general, a motion was made for the appointment of such receiver; which motion was resisted upon the ground…
1Opinion of the Court
The Chancellor :—By the act of April, 1825, (Sess. Laws of 1825, ch. 325, sec. 17,) it is made the duty of the attorney-general, whenever any incorporated bank is insolvent and unable to pay its debts, to apply to this court for an injunction, restraining the officers of the institution from exercising any of the privileges and franchises granted by their charter, and from collecting or receiving any debts, and from paying out or in any way transferring any of the moneys or effects of such company; and to appoint a receiver of its property, moneys and effects, and to distribute the same among…
2Cited by6 opinions
- Ex parte SmithSupreme Court of Alabama · 1853
- Spurgeon v. RhodesIndiana Supreme Court · 1906
- Mann v. PentzNew York Court of Chancery · 1845
- Attorney General v. Bank of MichiganMichigan Court of Chancery · 1841
- Youngblood v. SchampNew Jersey Court of Chancery · 1862
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