Squire, Supt. v. Harris

This case presents a close question and must be decided largely upon an interpretation of Section 3, Article XIII of the Ohio Constitution, in the light of the facts:

That section, prior to its amendment effective July 1, 1937, recited in part:

‘Stockholders of corporations authorised to receive money on deposit shall be held individually responsible, equally and ratably, and not for one another, for all contracts, debts, and engagements of such corporations, to the extent of the amount of their stock therein, at the par value thereof, in addition to the amount invested in such shares.”…