Andrew v. Bronson Savings Bank

In a proceeding in equity for the liquidation of the Bronson Savings Bank, the superintendent of banking, as receiver, instituted an action to recover from the stockholders of the bank for the benefit of its creditors the superadded liability imposed by section 9251, Code 1931. The bank closed on January 11, 1933, and was subsequently and on January 14, 1933, adjudged insolvent, and liquidation thereof was ordered. The shareholders answered jointly and claimed a credit or right to a set-oif on their several liabilities to the extent of (1) the amount of the deposits of each shareholder in the…