Shaw v. Fairey

The opinion of the Court was delivered by

Mr. Justice Cothran.

This action was commenced by the plaintiff, a depositor of the Bank of Kingstree, for himself and all other depositors, in November, 1929, in the Court of Common Pleas for Williamsburg County, against the stockholders of said bank, to recover for the depositors the statutory liability of the stockholders. The bank closed its doors and ceased to do business in June, 1925. The action is in the nature of a creditor’s bill in equity. The defendant stockholders demurred to the complaint upon the ground that the Act of 1929, 36 Stat.,…