State Bank of Portland v. Gotshall

This is an action at law brought by the plaintiff as superintendent of banks of the State of Oregon to recover under the double liability clause of Section 3 of Article XI of the Oregon Constitution, which provides that the stockholders of a bank-ing concern are liable equally and ratably for the benefit of the depositors of said bank to the amount of their stock at the par value thereof, in addition to the par value of such shares. In aid to this provision of the Constitution, Section 6222, Or. L., among other things, provides:

“If, at any time after any bank or trust company has been taken…