Bates v. Ely Trust & Savings Bank

On January 5, 1933, the Ely Savings Bank of Ely, Iowa, was duly adjudged insolvent and the superintendent of banking of the state of Iowa was duly and legally appointed receiver of said bank. On August 31, 1933, the plaintiff receiver filed his petition in equity to recover from the shareholders of the capital slock of said bank the superadded statutory liability on said stock under the provisions of section 9251 of the 1931 Code of Iowa. It is alleged in plaintiff’s petition that the defendant Minna K. Anderson is the owner of seven shares of said stock. She was personally served with…