Pearce v. Bennett

1. As to banks incorporated under the act of 1893 and the laws amendatory thereof (Ga. L. 1893, p. 70; Ga. L. 1895, p. 55), it is provided that “the board of directors shall have power to prescribe how, and in what sums, and at what times and places any unpaid part of the capital stock shall be paid in; and in the event any stockholder shall fail or make default for sixty days to pay any call regularly made in his subscription to stock, the directors may direct suit to be brought against him forthwith for the amount of such call.” Civil Code (1910), § 2268.

2. Where a subscriber for stock in…