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Legal Opinion

Stears v. Culp

Michigan Supreme Court

Decided June 17, 1936No. Docket No. 47, Calendar No. 38,874Published

1Opinion of the CourtFead, J.

The appeal is from allowance of an assessment on bank stock as a claim against the estate of Charles M. Burger, deceased, less credit on account of available deposits.

The First Commercial Savings Bank of Constantine,' capital $60,000, closed February 11, 1933, in pursuance of the governor’s proclamation of a State banking holiday and did not reopen at the end of the succeeding general banking holiday. E. L. Estes was appointed conservator of the bank March 27th.

June 6th, the commissioner of the State banking department levied an assessment of 100 per cent, against the stockholders. July 18th,…

2Cases cited17 opinions

  1. Home Building & Loan Assn. v. BlaisdellSupreme Court of the United States · 1934
  2. Gibbes v. ZimmermanSupreme Court of the United States · 1933
  3. Doty v. LoveSupreme Court of the United States · 1935
  4. Foster v. RowMichigan Supreme Court · 1899
  5. Virginian Joint Stock Land Bank v. HudsonMichigan Supreme Court · 1934

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