Kern v. Day
Supreme Court of Louisiana
APPEAL from the Oivil District Court for the Parish of Orleans. Monroe, J. 1. All transfers of shares of stock of the Citizens Bank of Louisiana must be registered on the bank’s books. Charter filed and made part of record, p. 122, Rule XI and See. 18, p. 17. 2. Complete and perfect transfer must be recorded on the corporate books.
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APPEAL from the Oivil District Court for the Parish of Orleans. Monroe, J. 1. All transfers of shares of stock of the Citizens Bank of Louisiana must be registered on the bank’s books. Charter filed and made part of record, p. 122, Rule XI and See. 18, p. 17. 2. Complete and perfect transfer must be recorded on the corporate books. Cook on Stocks and Stockholders, Sec. 375. 3. The legal qualifications of a'’director of the Citizens Bank of Louisiana, is a natural person, a citizen of the State, and a bona fide owner in his own name of 25 shares of paid up stock. See Charter Citizens Bank, pp.…
1Opinion of the Court
The opinion of the court was delivered by
Fenner, J.
Plaintiff, a judgment creditor of defendant, sought to seize by garnishment process certain shares of stock which stood in the name of the defendant on the books of the Citizens Bank.
The bank and the Sun Mutual Insurance Company were made garnishees.
The bank answered: “Defendant James I. Day was and still is registered as the holder of twenty-seven shares of the stock of this bank, but at and prior to date of service said bank had issued and there is still extant the certificate for said shares transferable by delivery so as to convey title…
2Cited by4 opinions
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