Beckman v. Lansberry

Larrabee, P. J.,

The Secretary of Banking of the Commonwealth of Pennsylvania, acting as receiver of the Snow Shoe Bank of Snow Shoe, Pa., brought an action of assumpsit against Blake E. Lansberry, seeking to recover the amount of an assessment of the par value of shares of stock in said bank held by Lansberry, in the nature of double liability.

It appears that the bank was closed on June 10, 1931, by the Secretary of Banking, who proceeded to take custody of the bank and found it was insolvent. In liquidating its affairs he decided to enforce the individual liability of the bank’s shareholders…