Harrison v. Ault

This is an action to enforce stockholders’ liability under section 6 of the Banking act. (Smith’s Stat. 1933, p. 198.) This section provides that “every stockholder in any bank or banking association organized under the provisions of this act shall be individually responsible and liable to its creditors over and above the amount of stock by him or her held, to an amount equal to his or her respective shares so held, for all its liabilities accruing while he or she remains such stockholder.” Appellees filed their bill in the circuit court of Jasper county seeking to establish the statutory…