Bell, Secy. of Banking v. Cabalik

Per Curiam,

This appeal is from a judgment entered for want of a sufficient affidavit of defense in an action of assumpsit brought by the Secretary of Banking, as receiver of Pittsburgh-American Bank and Trust Company, to recover from a stockholder a stock assessment equal to the par value of her shares.

The questions raised by the appeal are the following: (1) Is the provision for shareholders’ individual liability contained in section 5 of the Act of 1876, P. L. 161, violative of Article III, section 3, of the Constitution of Pennsylvania? (2) As applied to banks of deposit organized under…