Banking Commission v. Bitker

Defendant contends that the court erred in sustaining plaintiff’s demurrer to his counter-claim, and in holding that he could not set off the bank’s indebtedness to him, as a depositor, against his stockholder’s liability under sec. 221.42, Stats. That section, so far as here material, provides,—

“The stockholders of every bank shall be individually liable, . . . for the benefit of creditors of said bank to the amount of their stock at the par value thereof, in addition to the amount invested in said stock. -. . . Such liability shall accrue and become due and payable as to the stockholders of…