Adams v. Clark
Supreme Court of Colorado
Appeal from the District Court of Mesa County. Hon. Theron Stevens, Judge. Action by D. T. Clark, on behalf of himself and all other creditors of the Colorado State Bank of Grand Junction similarly situated, against Alva Adams, Bank of Commerce of Salt Lake City, A. C. Grout, Wm. M. McGinley, A. A. Miller, John Shields, Walter S. Sullivan and W. W. Huntington. From a judgment for plaintiff, defendants appeal. Decision en bane.
1Opinion of the CourtJustice Maxwell
This is an equitable action brought by D. T. Clark on behalf of himself and all other creditors of The Colorado State Bank of Grand Junction, similarly situated, against appellants as stockholders of said bank, to enforce the statutory liability imposed by 1 Mills’ Ann. Stats., sec. 533, Laws 1885, page 264, sec. 1.
“Shareholders in banks, savings banks, trust, deposit and security associations, shall be held individually responsible for debts, contracts and engagements of said associations, in double the amount of the par value of the stock owned by them respectively. ’ ’
The insolvent bank…
2Cases cited26 opinions
- Richmond v. IronsSupreme Court of the United States · 1887
- Ex Parte ReedSupreme Court of the United States · 1879
- Pauly v. State Loan & Trust Co.Supreme Court of the United States · 1897
- United States v. State BankSupreme Court of the United States · 1878
- Hawthorne v. CalefSupreme Court of the United States · 1865
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3Cited by20 opinions
- State ex rel. Weldon v. ThomasonTennessee Supreme Court · 1919
- Austin, Commissioner v. StrongTexas Supreme Court · 1928
- Blackert v. LankfordSupreme Court of Oklahoma · 1918
- Broderick v. AdamsonNew York Supreme Court · 1933
- Home State Bank v. SwartzMontana Supreme Court · 1925
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