Hillmer v. Bishop

The Chicago Bank of Commerce was being liquidated by the Auditor of Public Accounts and creditors of the bank brought a representative suit against the former and final stockholders of the hank to enforce the constitutional liability of the stockholders. When the case reached the'Supreme Court it held the maximum liability of the stockholders was $100 per share “but it was enforceable at $100 per share to the extent of debts accruing before February 7, 1931; as to debts accruing after that date it was enforceable at a maximum of $50 per share.” Hillmer v. Chicago Bank of Commerce, 375 Ill.…