Earnhardt v. . Brown

Equality among the stockholders of an insolvent building and loan association requires, first, that the solvent credits of the association be collected (thus placing the borrowing and nonborrowing stockholders on a parity), second, that its debts’be paid, and, third, that the balance be distributed according to the respective rights of the parties. Rendleman v. Stoessel, 195 N. C., 640, 143 S. E., 219. This is what the defendants are trying to accord the plaintiffs in the present suit. It is all they are entitled to receive.

But failing in their effort to have the payments made on their stock…