In re the Louisiana Savings' Bank & Safe Deposit Co.
Supreme Court of Louisiana
APPEAL from the Fifth District. Court for the Parish of Orleans. Bogers, J. 1. The charter of a corporation can only be forfeited at the instance of the State. 18 An. 677; 3 An. 954; 31 An. 836. % Under tho law of Louisiana a corporation has no right to make a voluntary cession of its assets. 5 Rob. 63 ; 15 An. 19 • 18 An. 685; 31 An. 836. 3. When tho law provides a method for the liquidation of a corporation, none other can be resorted to; and where the charter provides for…
Read the full summary
APPEAL from the Fifth District. Court for the Parish of Orleans. Bogers, J. 1. The charter of a corporation can only be forfeited at the instance of the State. 18 An. 677; 3 An. 954; 31 An. 836. % Under tho law of Louisiana a corporation has no right to make a voluntary cession of its assets. 5 Rob. 63 ; 15 An. 19 • 18 An. 685; 31 An. 836. 3. When tho law provides a method for the liquidation of a corporation, none other can be resorted to; and where the charter provides for liquidators to be chosen by the stockholders, tho courts ctf the State have no right to interfere iu the liquidation. 4…
1Opinion of the Court
The opinion of the Court was delivered by
Fenner, J.
The records inform us that at a meeting of tho Board of Directors of the Louisiana Savings’ Bank and Safe Deposit Company, held' in June, 1879, the president, Edward C. Palmer, informed the Board of certain matters affecting the Bank, which induced him to recommend that immediate steps should be taken to put the corporation into liquidation, and upon his suggestion the Board passed a resolution *197to tlie above effect and to call a meeting of depositors to recommend tlie names of three commissioners of liquidation, to be voted for by the…
2Cases cited2 opinions
- Frazier v. WilcoxSupreme Court of Louisiana · 1843
- United States v. Bank of the United StatesSupreme Court of Louisiana · 1845
3Cited by7 opinions
- Delta Duck Club v. BarriosSupreme Court of Louisiana · 1914
- Dreifus v. Colonial Bank & Trust Co.Supreme Court of Louisiana · 1909
- Weil v. Leopold Weil Building & Improvement Co.Supreme Court of Louisiana · 1910
- Fullenwider v. Supreme Council of Royal LeagueAppellate Court of Illinois · 1898
- In re Liquidation of Grant & Jung Furniture Co.Supreme Court of Louisiana · 1899
2 more not listed; retrieve them via the Exa API.