Chapman v. Penix

HALL, O. J.

The appellant, J. B. Cháp-man, as state commissioner of banking, filed this suit against the appellee, Penix, alleging that-on or about January 4, 1924, as such commissioner, he levied an assessment against each share of stock owned by all persons in the Guaranty State Bank of Graham on said date, and for 12 months prior thereto, the assessment being for $25,000, or 100 per cent, assessment, and which was made for the purpose of paying off the indebtedness of the bank; that S. A. Penix, was the owner of 20 shares of stock in said ’ bank within 12 months prior to the time the bank…