Morrison v. Fayetteville Building & Loan Ass'n

Litz, Judge:

This is a notice of motion for judgment by E. L. Morrison, as receiver of the Bank of Fayette, against the Fayetteville Building & Loan Association, a corporation, to recover the,, withdrawal value of stock owned by the bank in the association. Judgment for defendant was rendered on an agreed statement of facts, as hereinafter recited, and plaintiff prosecutes error.

January 26, 1931, the commissioner of banking closed the Bank of Fayette because of insolvency, and on March 5th, following, appointed Morrison receiver. It owned 106 shares of [‘paid up” stock in the Fayetteville…