Freeman v. Hudock

Opinion by

Mr. Justice Horace Stern,

In Freeman, Secretary of Banking v. Hiznay, 349 Pa. 89, 36 A. 2d 509, we held that where a bank, incorporated under the Act of May 13, 1876, P. L. 161, entered into consolidation with a title insurance and trust company, incorporated under the Act of April 29, 1874, P. L. 73, and the consolidated company was subsequently taken over by the Secretary of Banking because of insolvency, all its shareholders were equally and ratably liable to its creditors in the aggregate amount of the capital stock of the consolidating bank. In that case Pennsylvania Bank and…