International Mortgage Trust Co. v. Henry

The opinion of the court was delivered by

Thiele, J.:

This was an action to recover a claimed statutory double liability of a stockholder in an insolvent trust company organized under chapter 407 of the Laws of 1901, as amended, and now appearing as R. S., ch. 17, art. 20, as amended.

The second amended petition alleges the incorporation of the International Mortgage Trust Company on March 24, 1925, its charter reciting:

“That this corporation is organized for profit and that the purposes for which it is formed are: To have and to exercise all the powers such as are granted to and exercised by…