Feldman v. Standard Trust Bank of Cleveland

OPINION

By RICHARDS, J.

Article 13, §3 of the Ohio Constitution, as amended in 1912, makes stockholders of corporations authorized to receive money on deposit individually responsible equally and ratably and not one for another, for the contracts of the bank to the amount of their stock therein, and a similar statutory provision exists in the General Code of Ohio, §710-75 GC, which is a part of the present banking code of the State, and this liability is imposed upon the stockholders of a bank for the benefit of the creditors of the bank. The general banking act contemplates that the state…