Beckman v. Buckwalter

Per Curiam,

In 1934 the then Secretary of Banking brought an action in assumpsit against E. Earl Nelson, a shareholder of The Royersford Trust Company, to recover the unpaid balance of his stock subscription. A verdict was rendered against the defendant, but this court reversed (328 Pa. 56, 195 A. 416) on the ground that the Secretary had failed to comply with section 723 of the Department of Banking Code of 1933, P. L. 565, in that he had made demand for payment of the stock assessment “at once” instead of allowing a period of not less than thirty days. The reversal was stated to be “without…