Holland v. Heyman & Brother
Supreme Court of Georgia
Bankrupt. Corporations. Directors. Pleadings. Before Judge IIillyer. Fulton Superior Court. October Term, 1877. On September 10, 1875, Heyman & Bro. brought complaint against E. W. Holland as a stockholder of the Dollar Savings Bank, to recover of said Holland by reason of his ultimate liability for the indebtedness of the bank, to the extent of his pro rata share thereof, in the proportion that the stock of the bank ($50,000) bore to his stock ($7,500), upon a certificate…
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Bankrupt. Corporations. Directors. Pleadings. Before Judge IIillyer. Fulton Superior Court. October Term, 1877. On September 10, 1875, Heyman & Bro. brought complaint against E. W. Holland as a stockholder of the Dollar Savings Bank, to recover of said Holland by reason of his ultimate liability for the indebtedness of the bank, to the extent of his pro rata share thereof, in the proportion that the stock of the bank ($50,000) bore to his stock ($7,500), upon a certificate of deposit issued by said bank, as follows : “ Eo. 756. “ Atlanta, G-a., 20th Sept., 1873. “ This is to certify that M.…
1Opinion of the Court
Bleckley, Judge.
1. The bankruptcy of a corporation does not put an end to the corporate existence, nor vacate the office of the directors. A corporation of this state cannot be dissolved by an act of congress, or by the administration thereof, through the federal courts. Georgia created, and she alone can destroy. Code, §§1485 et seq.; §§1651,1670, 1682, 1684. Besides, it is not the purpose of the bankrupt law to dissolve corporations. The assets are seized, but the franchise is spared. “Your money,” not “your life,” is the demand made by the bankrupt act.
2. After a chartered bank has been…
2Cases cited21 opinions
- Slee v. BloomNew York Supreme Court · 1822
- Koehler v. Black River Falls Iron Co.Supreme Court of the United States · 1863
- Stow v. WyseSupreme Court of Connecticut · 1828
- People Ex Rel. Loew v. BatchelorNew York Court of Appeals · 1860
- State Savings Ass'n v. KelloggSupreme Court of Missouri · 1873
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3Cited by6 opinions
- National Surety Co. v. MedlockCourt of Appeals of Georgia · 1907
- Nicholson v. ThomasCourt of Appeals of Kentucky (pre-1976) · 1939
- Stagg v. Spray Water Power & Land Co.Supreme Court of North Carolina · 1916
- Kennedy v. New Orleans Savings InstitutionSupreme Court of Louisiana · 1884
- State ex rel. McCoy v. Farmers' Co-Op. Packing Co.South Dakota Supreme Court · 1926
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