Brice v. Cleveland

The opinion of the Court was delivered by

Mr. Justice Fishburne.

This is an action by the receiver of Dollar Savings Bank, an insolvent state bank, against the defendant to recover the statutory stockholder’s liability upon 37 shares of the capital stock of such bank, of the par value of $100.00 each, alleged to have been owned by the defendant at the time the bank closed.

On December 20, 1929, A. M. Law & Co, stockbrokers of Spartanburg, S. C., sold to the defendant 37 shares of the capital stock of Dollar Savings Bank of Spartanburg. Certificates representing 32 shares of the stock so…