Lanigan v. North
Supreme Court of Arkansas
Appeal from Sebastian Circuit Court. Edgae E. BeyaNt, Judge. STATEMENT BY THE COURT. The City Bank of Los Angeles, California, a corporation organized under the laws of California, became insolvent, and suspended business on the 19th of June, 1893, and is still insolvent. Thomas Lanigan of Fort Smith, Arkansas, now deceased, became a stockholder in the bank at the time of its organization.
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Appeal from Sebastian Circuit Court. Edgae E. BeyaNt, Judge. STATEMENT BY THE COURT. The City Bank of Los Angeles, California, a corporation organized under the laws of California, became insolvent, and suspended business on the 19th of June, 1893, and is still insolvent. Thomas Lanigan of Fort Smith, Arkansas, now deceased, became a stockholder in the bank at the time of its organization. He at that time held 200 shares of the capital stock, of the par value of $20,000, and when the bank suspended his estate was still the owner of fifty shares of the stock of the par value of five thousand…
1Opinion of the Court
RiddicK, J.,
(after stating the facts.) This is an action under-a statute of California by a creditor of an insolvent bank of that state against the estate of a stockholder of the bank who at the-time of his death was a citizen of Arkansas. The action is founded in part on a debt due by the bank to the plaintiff, North, and also-upon claims against the bank assigned to the plaintiff by certain-, other creditors of the bank.
The first contention made here is that the liability oí a stockholder under the California statute should not be enforced in this state. The statute in question provides…
2Cases cited7 opinions
- Meeker v. . ClaghornNew York Court of Appeals · 1871
- Nebraska National Bank v. WalshSupreme Court of Arkansas · 1900
- Mokelumne Hill Canal & Mining Co. v. WoodburyCalifornia Supreme Court · 1859
- Hyman v. ColemanCalifornia Supreme Court · 1890
- St. L., I. M. & S. Ry. v. Camden BankSupreme Court of Arkansas · 1886
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3Cited by15 opinions
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