Talbot v. Automobile Identification Underwriters, Inc.

This is a suit by stockholders of Automobile Identification Underwriters, Inc., against that corporation and the sureties upon certain bonds executed by it. A demurrer was interposed and overruled. Answers were filed by the corporation and its sureties, proof taken and the bill finally dismissed. The Court of Appeals affirmed the decree of the chancellor.

The corporation was chartered under the laws of Delaware and employed certain agents to sell its stock in Tennessee. The insurance commissioner required from said corporation, as a condition to the sale of its stock in this State, the bonds…