Smith v. Goldsmith

The Commercial State Bank of Salem was closed and placed in the hands of the state superintendent of banks on April 24, 1924, and thereafter and on October 3, 1924, the' superintendent- of banks, having- determined that the bank was hopelessly insolvent and that its liabilities exceeded its assets by much more than the capital stock, brought this action against defendant, who was the owner of 25 shares of stock in said bank of the par value of $2,500, to enforce her liability as such stockholder under section 3, art. 18, Constitution of South Dakota, and section 8993, Code 1919, in the amount…