State Ex Rel. Department of Financial Institutions v. Kaufman

The court below sustained the appellee’s demurrer for want of facts to the appellant’s amended complaint. The appellant elected to stand on its complaint and has appealed, assigning error on the action of the court in sustaining said demurrer.

The suit was to enforce payment on a stockholder’s liability for a 100 per cent assessment growing out of the insolvency of a state bank, which closed and entered into liquidation on October 31, 1931. The complaint was drawn on the theory that the appellee was the owner of certain shares of the capital stock of the bank at the time it ceased to operate,…