Felton v. Bennett

On November 20, 1924, the directors of the Bank of Donalsonville surrendered to the superintendent of banks its business and assets, for the purpose of liquidation. The petition in this case alleges that “the defendant seized its [the bank’s] assets under a claim of legal right hereinafter more fully explained, and proceeded to administer its affairs. Claiming and alleging that petitioner was and is a stockholder in said corporation, and liable as such to contribute a sum equal to the par value of said stock, to wit, $1,500, for the payment of depositors, defendant is now declaring that, in…