Chapman v. Denton

This is a suit by the state commissioner of insurance and banking against appellee to recover of the latter as a stockholder in the First State Bank of Penelope, Tex., the amount of a stockholder’s personal liability under article 552 of the Statutes. It is alleged and shown that said bank carried on business until on or about December 13, 1920, at which time it was closed by the commissioner, or his predecessor in office, because it had become and was insolvent and owed debts in a large amount; and that in course of liquidation the commissioner had assessed the stockholders in an amount…