Rossi v. Hammons

The Arizona Building & Loan Association having become insolvent, A. T. Hammons, as superintendent of banks, took possession of its assets in 1923' and later filed suit against Alexander Rossi for the recovery of $5,000 which, it is alleged, the association wrongfully paid him for twenty-five shares of its permanent guarantee stock. From this judgment and the order denying his motion for a new trial the defendant appeals.

This association, it appears from the bill of exceptions, was organized in 1902 for the purpose "of transacting business of the general nature of that usually engaged in by…