Broderick v. Pomerantz

Plaintiff, as Superintendent of Banks of the State of New York, sues to enforce the statutory liability of a stockholder of the Capitol Trust Company, a banking institution in the city of Schenectady, of which he assumed charge for the purpose of liquidation of its assets on September 21, 1931. Defendant denies the status of stockholder.

The facts are undisputed. Pursuant to section 80 of the Banking Law, plaintiff levied an assessment against the stockholders of the bank to the full extent of their liability. Up to about May, 1930, defendant was the owner of ten shares of its capital stock.…