Security State Bank v. O'Connor

This action was brought by the plaintiff bank to establish a claim against the First National Bank of Grand Forks in the hands of the defendant O’Connor - as receiver. Plaintiff bank made an assessment on its capital stock pursuant to the provisions of chapter 96, S. L. 1931, and levied the same against 38 shares of stock which plaintiff contends were owned by the First National Bank. This assessment was not paid. The plaintiff made a purported sale of the shares for $19, leaving a claimed deficiency in the assessment of $3,781.00. Plaintiff brought this action to establish its claim in the…