Holderman v. Moore State Bank

The Moore State Bank of Monticello closed its doors February 20, 1933, and a receiver was appointed by the Auditor of Public Accounts to liquidate its assets. Shortly thereafter two representative suits, later consolidated, were filed by creditors of the bank to enforce stockholders’ constitutional liability, and May 15, 1937, decrees were obtained against all such stockholders except those who had paid or settled their liability prior to the entry of such judgment, and F. L. Borton was appointed by the circuit court of Piatt county to collect such stockholders’ liability for the creditors of…