Citizens State Bank ex rel. Johnson v. Burner

The opinion of the court was delivered by

Hutchison, J.:

The question involved in this case is whether the transfer on the books of a state bank of some of its stock in disregard and violation of an order of a deputy bank commissioner invalidates the sale and transfer of the stock to the extent of relieving the purchaser thereof from the double liability thereon, when the deputy bank commissioner later and many months prior to the failure of the bank approved the transfer.

The Citizens State Bank of Sabetha was examined in January, 1927, and among the requirements made of the bank and its…