Montgomery Bank & Trust Co. v. Jackson
Supreme Court of Alabama
Appeal from Montgomery City Court. Heard before Hon. Gaston Gunter. Bill by William Jackson against tbe Montgomery Bank & Trust Company to determine priority of debt, and to subject tbe property and assets on wbicb tbe corporation bas a lien for tbe payments of its debts, other than tbe stock held by complainant, and for an order of sale for tbe stock, and tbe payment of complainant’s debt out of tbe proceeds of same. From a decree for complainant, respondent appeals.
1Opinion of the CourtMcCLELLAN, J.
This bill sought, and tbe decree, below made effective, a lien, in favor of complainant *412(appellee Jackson) upon shares of the capital stock of the appellant banking company superior to that asserted by the banking company, another creditor of the common debtor, Lasseter, a,s upon the right provided by Code, § 3476, which, as presently important, reads: “All such corporations have a lien on the shares of its stockholders, for any debt or liability incurred to it by a stockholder, before a notice of a transfer or levy on such shares. * * * ”
The conclusion there prevailed: “That there was a…
2Cases cited5 opinions
- McDonnell v. Alabama Gold Life InsuranceSupreme Court of Alabama · 1888
- Harrison & Robinson v. JohnstonSupreme Court of Alabama · 1855
- Stickney v. MooreSupreme Court of Alabama · 1895
- Smith v. PittsSupreme Court of Alabama · 1910
- Lee v. GreenSupreme Court of Alabama · 1887
3Cited by19 opinions
- City Nat. Bank of Huron, SD v. FullerCourt of Appeals for the Eighth Circuit · 1931
- American Nat. Bank & Trust Co. v. PowellSupreme Court of Alabama · 1937
- Standard Acc. Ins. Co. of Detroit v. Federal Nat. Bank of ShawneeCourt of Appeals for the Tenth Circuit · 1940
- Alabama Fidelity & Casualty Co. v. Alabama Penny Sav. BankSupreme Court of Alabama · 1917
- Cooper Grocery Co. v. StrangeTexas Commission of Appeals · 1929
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