Davis v. Moore
Supreme Court of Arkansas
Appeal from Grant Circuit Court; W. H. Evans, Judge; Appeal from Jefferson Chancery Court; John M. Elliott, Chancellor; 1. The act is not unconstitutional.
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Appeal from Grant Circuit Court; W. H. Evans, Judge; Appeal from Jefferson Chancery Court; John M. Elliott, Chancellor; 1. The act is not unconstitutional. Art. 12, § 6, Constitution, Ark.; 4 Wheat 518. The Legislature has power to impose the double liability upon stockholders of corporations. 21 N. T. 9; 98 Mich. 472; 26 Me. 196; 9 E. 1. 194; 70 Minn. 538; 5 Wis. 577; 108 Ky. 21; 111 Cal. 57; 1 Black. 587; 179 U. S. 46; 15 Wall. 478. 2. It is not against the Fifth Amendment to the Constitution of the United States. 104 U. S. 155; 123 Id. 131; 147 Id. 490. Nor against the Fourteenth…
1Opinion of the CourtMcCULLOCH, C. J.
In each of the two actions now under review John M. Davis, as Bank Commissioner of the State, was the plaintiff seeking to enforce against one of the stockholders in a bank the liability imposed by the banking law for the debts of the banking corporation to the extent of an amount equal to the par value of the stock held in such corporation. In the Moore case the Bank Commissioner sued the stockholders of the Bank of Leola, a defunct banking corporation, and in the Graham case the Bank Commissioner sued the stockholders of the defunct Bank of .Pine Bluff.
The Bank of Leola was incorporated and…
2Cases cited11 opinions
- Kennedy v. GibsonSupreme Court of the United States · 1869
- Christopher v. NorvellSupreme Court of the United States · 1906
- Leep v. Railway Co.Supreme Court of Arkansas · 1894
- McGowan v. McDonaldCalifornia Supreme Court · 1896
- Bissell v. HeathMichigan Supreme Court · 1894
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3Cited by32 opinions
- Duke v. ForceWashington Supreme Court · 1922
- Cosmopolitan Trust Co. v. MitchellMassachusetts Supreme Judicial Court · 1922
- Rainey v. MichelCalifornia Supreme Court · 1936
- Stockholders of Peoples Banking Co. v. SterlingSupreme Court of the United States · 1937
- Commissioner of Banks v. Prudential Trust Co.Massachusetts Supreme Judicial Court · 1922
27 more not listed; retrieve them via the Exa API.