Conner v. McSween

The opinion of the Court was delivered by

Mr. Justice Stabrer.

This appeal involves the statutory liability of the respondent John McSween, as a stockholder in the Bank of Timmonsville.

On March 14, 1927, the respondent, by written instrument, made a voluntary transfer of 300 shares of stock in the bank, owned by him and registered in his name, to C. B. Carter, as trustee for respondent’s three minor children, and a certificate of the stock was duly issued and registered in the name of Carter as trustee. Some months later, the bank attempted to reduce its capital stock by one-half, and a…