Legal Opinion · Dissent
Stears v. Culp
Michigan Supreme Court
Decided June 17, 1936No. Docket No. 47, Calendar No. 38,874Published
1DissentBushnell, J.
Being unable to agree with the conclusion reached by Mr. Justice Fead, I state, my views.
In my opinion, the determinative question is: Can a stockholder’s assessment be collected under 3 Comp. Laws 1929, § 11945, when at the time of the attempted enforcement of the assessment the bank is continuing its ordinary business under its original charter ?
The uited section (section 48 of the general banking act, Act No. 66, Pub. Acts 1929) provides:
“The stockholders of every bank shall be individually liable, equally and ratably, and not one for another,'to satisfy the obligations of said bank to…
2Cases cited10 opinions
- Doty v. LoveSupreme Court of the United States · 1935
- Lafayette Trust Co. v. . BeggsNew York Court of Appeals · 1915
- Foster v. RowMichigan Supreme Court · 1899
- Assets Realization Co. v. . HowardNew York Court of Appeals · 1914
- In re the Judicial Settlement of the Account of SilkmanAppellate Division of the Supreme Court of the State of New York · 1907
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