Hudson v. Bank of Waldo

In July, 1929, the Bank of Waldo was taken possession of hy the Comptroller under the authority of the State Banking Law. On September 5th the Comptroller, acting under authority of section 4146 R. Gr. S., as amended by chapter 13576 Acts of 1929, declared the capital stock of the Bank to be impaired and thereupon required the Bank of Waldo to assess upon its capital stock an assessment of 100% of the face value thereof, being in addition to the amount invested in the shares of stock. Thereafter, on September 10th the Bank of Waldo made and levied such assessment of 100% against its various…